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2022-08-11 THURSDAY

The euro and Japanese yen were sitting pretty in Asian Market opening trades today, after U.S. inflation data overnight came in less hot than feared and sent the dollar tumbling. U.S. consumer prices were unchanged in July compared with June, when prices rose a monthly 1.3%. The July result was lower than expectations due to a sharp drop in the cost of petrol, causing markets to reposition on hopes that inflation was peaking. The surprise downward (inflation) move takes out much of the fear that the market had of a 75bps Fed hike or even inter-meeting moves. If price rises have reached their zenith, investors expect the U.S. Federal Reserve will not have to maintain its eye-wateringly steep pace of interest rate hikes, which had been supporting the dollar. In currencies today, the yen was at 133.18 per dollar, after the greenback had fallen 1.6% overnight on the Japanese currency, which is particularly sensitive to moves in U.S. yields. The euro was at $1.0282 today, after jumping 0.84% yesterday. sterling too was on the front foot at $1.2207. Markets are currently pricing in a 57.5% chance of a 50-basis point interest rate rise at the Fed\'s next meeting, though another 75-basis point increase remains possible.  
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INR Rates

Symbol   Bid  ASK
USD79.5975 79.6075
GBP94.27528 94.28324
EUR79.75669 79.78853
JPY0.58134 0.58139
CHF80.80964 80.84247
AUD53.593 53.6328
SGD56.56043 56.58054
CAD61.10663 61.1301
NZD48.68979 48.69775
*Closing Rates on : 2022-07-12

Stock Indices

IndexPointsChange
BSE Sensex59492.17159.57
S&P CNX Nifty17707.7548.75
NASDAQ13291.986-86.335
HangSeng20175.6293.19
DJ IA31097.9756.84
DAX13801.78107.27
2007 MIDAS FOREX
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