The Indian rupee fell to a one-month low on Monday, as a better-than-expected U.S. jobs report prompted investors to bet on more Federal Reserve rate increases, with weaker domestic equities also weighing on market sentiment.
Trading was volatile last week and the currency traded on the weaker side of 82 for most part, weighed down by losses in equities as foreign investors dumped Indian stocksAdani Group stocks fell again on Monday as credit warnings trickled in, sending jitters through markets."The bullish movement in the dollar index and foreign portfolio outflows could pressurise the rupee," said Amit Pabari, managing director at CR Forex.
"Friday's U.S. data... has increased the chances of another quarter bps hike from the Fed and pushed the terminal rate higher, which is not a good sign for other currencies."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
INDIA RUPEE Rupee poised for sizeable losses on bets of more Fed rate hikesThe Indian rupee was headed lower against the dollar on Monday after a better-than-expected U.S. jobs report prompted investors to bet on more Federal Reserve rate increases.
Read more »
Stock market today: Dow slips as jobs gains deliver big blow to Fed pause bets By Investing.com*STOCKS END WEEK LOWER AS STRONG JOBS DATA DELIVERS BIG BLOW TO FED PAUSE BETS
Read more »
Friday's Surprisingly Positive Jobs Report Does Not Mean Fed Should Keep Raising RatesThe basic reality is American workers don’t have the power to raise their wages. Big American corporations have the power to raise their prices.
Read more »
Upbeat Economic Data Keep Investors on Edge About FedWith employers ramping up hiring across industries from hospitality to healthcare to retail, investors say it is difficult to imagine the U.S. slipping into recession soon
Read more »
EUR/USD retreats from 1.0800 as Fed pause bets fade post mammoth US NFP reportThe EUR/USD pair has sensed selling interest after a pullback move to near the round-level resistance of 1.0800 in the early Asian session. The major
Read more »