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Market move● Neutral for Indian equities
Dollar set for weekly gains as yields surge, Fed bets build
The brief
- The dollar posted consecutive weekly gains for the first time in over three months
- Rising Treasury yields and expectations of further rate increases supported the dollar
- INR stays pressured as oil prices rebound amid the ongoing West Asia conflict
- Indian central bank likely shielding rupee as US-Iran impasses lifts oil prices, traders say
- Bitcoin falls 1.22% to $83,428 amid higher crude, elevated dollar, cooling ETF flows
- ETMarkets Smart Talk | Fed tightening returns: Ritesh Nambiar on what it means for Indian bonds and the rupee
- Rupee weakens to 95.88–95.95 per dollar as oil rises and foreign outflows persist
Dollar gains as US yields and rate bets rise
A firm dollar and rising US Treasury yields, supported by strong manufacturing data and expectations of further rate increases, pressured other currencies. The Indonesian rupiah was on track for its steepest weekly fall since May.
Friday, 25 September
- Dollar set for weekly gains as yields surge, Fed bets build