Forex - Dollar edges up after slipping on U.S. political concerns

The dollar edged higher against a basket of the other major currencies on Thursday, regaining ground after slipping in the previous session amid renewed concerns over U.S. political uncertainty.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.14% to 93.27 by 03:22 AM ET (07:22 GMT).

U.S. President Donald Trump threatened Tuesday to shut down the government to secure funding to build a wall along the U.S.-Mexican border. He also raised the prospect of pulling out of the North American Free Trade Agreement with Mexico and Canada.

The greenback has weakened recent sessions amid renewed investor concerns about the Trump administration's ability to deliver on its economic policy agenda.

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BUY EURINR ABOVE  73.30 TGT  73.40-73.50-73.60 SL BELOW  73  CMP  73.27

SELL JPYINR  BELOW  63.80 TGT  63.70-63.60-63.50 SL ABOVE 64 CMP  63.8175 

BUY GBPINR ABOVE  81.85 TGT  81.95-82.05-82.15 SL BELOW 81.65  CMP  81.82

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BUY JPYINR ABOVE 65.50 TGT -65.60-65.70-65.80 SL 65.30 BELOW CMP 65.4750

SELL USDINR BELOW 67.15 TGT  67.05-66.95-66.85 SL 67.35 ABOVE CMP  67.15


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SELL GBPINR BELOW  88.65 TGT -88.55-88.45-88.35 SL 88.85 ABOVE CMP   88.65

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SELL GBPINR BELOW  88.55 TGT -88.45-88.35-88.25 SL 88.75 ABOVE CMP  88.5625


BUY JPYINR ABOVE 66.90 TGT  67-67.10-67.20 SL  BELOW  66.70 CMP 66.90


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Dollar eases off 5-week lows vs. other majors

The dollar edged up and pulled away from a five-week low against the other major currencies on Monday, as markets digested the downbeat U.S. growth data released on Friday and eyed an upcoming report on U.S. manufacturing activity due later in the day.

USD/JPY added 0.15% to trade at 102.18, easing off Friday’s three-week trough of 101.94.

The dollar recovered from sharp losses posted after the Bank of Japan approved only moderate stimulus measures at Friday monetary policy meeting, disappointing markets which were hoping for much more aggressive easing.

While the BoJ eased its monetary policy further by increasing its purchases of exchange-traded funds, it opted not to cut interest rates deeper into negative territory or increase the monetary base, as analysts had widely expected.

EUR/USD was little changed at 1.1167.

The pound slipped lower, with GBP/USD down 0.32% at 1.3186, while USD/CHF slipped 0.12% to 0.9778.

BUY JPYINR ABOVE  65.35 TGT -65.45.-65.55-65.65  SL 65.15 BELOW CMP 65.35

 SELL GBPINR BELOW 88.85 TGT -88.75-88.65-88.55 SL 89.05 ABOVE CMP 88.87

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BUY GBPINR ABOVE 90 TGT -90.10-90.20-90.30 SL 89.70 BELOW CMP 90

SELL JPYINR BELOW  63.55 TGT  63.45-63.35-63.25   SL 63.85 ABOVE CMP 63.55


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11 july Forex tips - Dollar up more than 1% against yen as Japan stocks rally

The dollar rose more than 1% against the yen on Monday as Japanese stocks led a rally in Asian markets, boosted by a robust U.S. jobs report and hopes for additional economic stimulus in Japan.

USD/JPY hit highs of 101.95 and was last at 101.91, up 1.3% for the day. The pair had fallen to lows of 99.97 in the wake of Friday’s jobs report.

EUR/JPY advanced 1.22% to 112.43.

Japan’s Nikkei surged 3.98% after Prime Minister Shinzo Abe’s ruling coalition increased its majority in the upper house in parliamentary elections on Sunday.

The win for Abe’s coalition fed hopes for a fresh package of stimulus measures to spur economic growth.

Risk appetite had already been boosted after data on Friday showing that the U.S. economy added 287,000 jobs in June, well above the 175,000 jobs forecast by economists.

The stronger than expected jobs report indicated that the economic recovery is back on track.

SELL GBPINR BELOW 87.35 TGT 87.25-87.15-87.05 SL 87.55 ABOVE CMP 87.35-36

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FOREX TIPS: Asian shares slip as Fed, Brexit loom

Asian stocks slipped on Tuesday ahead of the U.S. Federal Reserve's two-day meeting that begins later in the day, amid growing worries this month's referendum in Britain could see it exit the European Union.

The pound and euro have suffered in recent sessions as economists fear a so-called Brexit would tip Europe back into recession. Voters appear divided ahead of the June 23 referendum, with the "Out" campaign widening its lead over the "In" camp, according to two opinion polls published by ICM on Monday.

Financial spread betters predicted the gloom would spread to European trading. Britain's FTSE 100 was seen opening 0.3 percent lower, while both Germany's DAX and France's CAC 40 were expected to fall 0.8 percent.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4 percent, after Wall Street lost ground for the third straight session.

Japan's Nikkei stock index skidded 1 percent after tumbling 3.5 percent on Monday.

BUY GBPINR ABOVE 95.35 TGT -95.45-95.55-95.65 SL 95.15 BELOW CMP 95.35

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Forex signals: Dollar bulls bruised by payrolls blow, Yellen in focus

The dollar languished at more than three-week lows against a basket of major currencies on Monday after a strongly disappointing employment report prompted investors to rule out the chance of a hike in U.S. interest rates this month.

The dollar index (DXY) stood at 94.161, having been as low as 93.855 on Friday - a level last seen on May 12. It tumbled 1.6 percent on Friday, posting its second biggest one-day drop this year.

The yen also hit a three-year high of 120.83 per euro on Friday before stepping back to 121.50.

The euro held upper hand against the dollar, climbing to its highest in three weeks at $1.1375 on Friday though it has since drifted back to $1.1345.

BUY EURINR ABOVE 76.25 TGT- 76.35-76.45-76.55 SL 76 BELOW

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Dollar hits two-week low against yen

The dollar hit a two-week low against the safe-haven yen on Thursday, weighed down by uncertainty over whether the U.S. Federal Reserve will raise interest rates in June or July.

Strategists said comments from Bank of Japan board member Takehiro Sato, who said on Thursday he was opposed to deepening negative interest rates, had lifted the yen, which was already trading strongly on the back of subdued risk sentiment across markets.

The dollar was down half a percent by 0740 GMT at 108.99 yen, having earlier touched 108.825 yen, its lowest for two weeks. That was around 2.5 percent weaker than a one-month high of 111.455 yen set on Monday.

The European Central Bank will at 1145 GMT publish its latest interest rate decision, with no change expected, followed by a press conference with ECB chief Mario Draghi at 1230 GMT.

The euro rose 0.3 percent to $1.1221, its highest in nine days, lifted by market expectations that the ECB will raise growth and inflation forecasts, a rare positive step even as it emphasises persistent negative risks and a readiness to provide more stimulus.

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Asia shares slip, dollar firm after Yellen's hike remarks

Asian shares slipped on Monday while the dollar marked fresh highs after Federal Reserve Chair Janet Yellen suggested that an interest rate hike could be around the corner.

The Fed should raise interest rates "in the coming months" if economic growth picks up and the labor market continues to improve, Yellen said on Friday.

The dollar index logged a fresh two-month high of 95.940, and was last up 0.4 percent at 95.897 (DXY).

The dollar rose 0.5 percent to 110.96 yen after earlier notching a fresh one-month higher of 111.03 yen.

The dollar also got a lift from revised U.S. gross domestic product data for the first quarter released on Friday, that showed that growth did not slow as much as first estimated.

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Dollar slips lower but remains broadly supported

The dollar slipped lower against the other major currencies on Thursday, as investors locked in profits from the greenback’s recent rally to two-month highs and awaited the release of U.S. jobless claims and durable goods orders data later in the day.

USD/JPY edged down 0.17% to 109.99.

The greenback continued to be underpinned by expectations that the Federal Reserve could raise interest rates in the near term after last week’s April Fed meeting minutes flagged a possible rate hike if the economy continues to improve.

However, investors remained cautious as G7 leaders held a summit meeting in Japan, amid persistent concerns over the strength of the global economy.

The G7 leaders were expected to reiterate their previous commitment to stability in the foreign exchange market.

EUR/USD rose 0.22% to 1.1178, pulling away from Tuesday’s two-month lows of 1.1132.

The euro gained ground after Greece and its creditors reached a deal on Wednesday to unlock €10 billion in bailout funds and trigger work on debt relief, easing concerns over another euro zone debt crisis.

The dollar was steady against the pound and the Swiss franc, with GBP/USD at 1.4701 and with USD/CHF at 0.9911.

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Forex - Dollar dips but remains firm on rate hike view

The dollar eased against a basket of its peers on Wednesday, but remained supported near two-month highs as positive U.S. housing data and recent hawkish comments by Federal Reserve officials indicated that interest rates could soon rise.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, eased to 95.53, just below overnight highs of 95.66, the most since March 29.

Demand for the dollar continued to be underpinned after data on Tuesday showing that U.S. new home soared to the highest level since the start of 2008 in April.

The Commerce Department said new home sales rose by 16.6% to an annual unit rate of 619,000 last month.

The data reinforced expectations that the Fed could raise interest rates in the near term after last week’s April Fed meeting minutes flagged a possible rate hike if the economy continues to improve.

Higher rates are positive for the dollar because they make the U.S. currency more attractive to yield-seeking investors.

EUR/USD edged up to 1.1147 from Tuesday’s lows of 1.1131, the weakest level since March 16.

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CURRENCY FUTURES TRADES STRONGER, OI DECLINES BY 0.67%

The partially convertible rupee is currently trading flat compared to its Thursday’s close at 67.36. The rupee opened at 67.38 and touched day’s high of 67.4050 and low of 67.3150.

The May currency future was trading at 67.4425 with a spread of 0.0050 and a volume of 370515. The contract opened weaker at 67.52 compared to its previous closing of 67.4550. 

The open interest (OI) stood at 1,558,878 down by 0.67% compared to its previous close of 1,569,406.

The rupee had closed at 67.36 on Thursday, while the Reserve Bank of India’s (RBI) reference rate stood at 67.2307.

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