USD/INR continues its winning streak for the third successive session on Thursday.
USD/INR continues its winning streak for the third successive session on Thursday.
The USD/CHF pair gathers strength to around 0.7820 during the early European session on Thursday. The US Dollar (USD) strengthens against the Swiss Franc (CHF) as soaring oil prices threaten to spur inflation and force the US Federal Reserve (Fed) to adopt more hawkish policy stances.
The AUD/USD pair attracts some sellers during the Asian session on Thursday, and for now, seems to have snapped a four-day winning streak to its highest level since June 2022, around the 0.7185 region, touched the previous day.
Silver (XAG/USD) rebounds following the Asian session slide to sub-$84.00 levels, though it lacks follow-through buying and remains below the 100-hour Exponential Moving Average (EMA).
EUR/USD extends its losses for the third successive session, trading around 1.1540 during the Asian hours on Thursday.
The GBP/USD pair attracts sellers for the third straight day and touches a fresh weekly low, around the 1.3370 region, during the Asian session on Thursday. Spot prices, however, recover a few pips in the last hour and currently trade around the 1.3400 mark, down less than 0.15% for the day.
Gold price (XAU/USD) extends its losses for the second successive session, trading around $5,150 during the Asian hours on Thursday. The bullion price slides as surging oil prices heightened inflationary risks and reduced the likelihood of Federal Reserve (Fed) interest rate cuts.
Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday that the central bankn “will conduct appropriate monetary policy while assessing how forex affect the likelihood of our forecasts.”
USD/CAD loses its recent gains registered in the previous session, trading around 1.3580 during the Asian hours on Thursday.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.35 during the Asian trading hours on Thursday. The DXY edges higher amid further escalation in the Middle East conflict.