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The Rupee opened stronger at Tuesday's open, aided by cooling oil prices following a pause in ?Iran-Israel hostilities, which in turn pressured the dollar. The currency is trading near levels seen before the Reserve ?Bank of India's policy last week, which announced a series ?of measures to draw in dollar inflows. The steep fall on ?Monday surprised most currency traders, many of whom have turned modestly ?bullish after the RBI's steps. He added that the rupee's recovery from near 97 to 95, along ?with lower hedging costs, was likely to bring in importer interest. Still, ?the RBI's measures are expected to bring in billions of dollars, alleviating pressure on ?the ?rupee, whose trajectory would then largely depend on crude price movements. Oil prices have retreated from recent highs but remain highly volatile, tracking shifts in news flow. Brent crude surged to $98 on Monday after renewed Israeli ?strikes on Iran ?and attacks ?in Lebanon dashed hopes of an imminent ceasefire in the broader conflict. Prices later cooled to around $94 after Iran ?and Israel called a halt to hostilities following an ?appeal from ?U.S. President Donald Trump. Asian currencies rose, supported by the pullback in oil prices and an improvement in risk sentiment. Meanwhile, U.S. yields nudged higher, with ?the ?10-year note at 4.5650%, posing a potential ?headwind for Asian currencies. The U.S. dollar held near a two-month high on Tuesday, firming against ?most major peers as Middle East uncertainty curbed risk appetite and traders ramped up bets on ?a Federal Reserve rate hike later this year. U.S. efforts to ?reach a lasting agreement with the Iranians to end their more than three-month-old war have made little headway, ?leaving oil prices elevated and underpinning safe-haven demand for the greenback. The euro stood at $1.1528 and the ?sterling fetched $1.3335 , both down roughly 0.05% so far in Asia after hitting their two-month lows in the previous session. The ?risk-sensitive Australian dollar was down 0.1% at $0.7039, and the New Zealand dollar traded at $0.5804. The Japanese yen weakened to as much as ?160.295, continuing to hover around the 160 level widely seen as a line in the sand for potential official intervention. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, was little changed at 100.03, near the two-month ?high of 100.21 it struck on Monday. The offshore yuan was flat at 6.7857 per dollar, ahead of trade data due later in the day that is expected to show China's export growth strengthened in May. Oil prices inched up in early trade on Tuesday after Iran and Israel left ?the door open to a possible resumption of attacks on each other, though ?they had called a halt to hostilities following an appeal from U.S. President Donald Trump. Brent crude futures rose 13 cents, or 0.14%, to $94.38 a barrel at 0001 GMT, while U.S. West Texas Intermediate were up 11 cents, ?or 0.12%, at $91.41 a barrel.......
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GlobalFX

The US dollar weakened sharply against other major currencies after data showed that the US economy suffered a record contraction in Apr-Jun, while jobless claims rose in the week ended Saturday also rose.The US unit also extended its decline globally on Thursday after Trump raised the possibility of delaying presidential election in the US, scheduled for November.European Stocks ended lower on Thursday due to mounting concern over sluggish economic recovery and a possible second wave of the COVID-19 pandemic.Germany reported its worst decline in GDP since 1970, with the Eurozone’s largest economy shrinking 10.1% quarter-on-quarter in Apr-Jun.Corporate earnings were high on investors' agenda on Thursday.In the US, Most share indices ended lower on Wednesday following bleak economic data.Lack of progress in talks between Congressional Democrats, Republicans and the White House on a new coronavirus aid package also weighed on sentiment.Gold futures settled lower on Thursday after nine consecutive days of gains, with the bullion retreating from a record rally as traders booked some profit.......
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