The Indian Rupee (INR) has been trading on a softer note on Wednesday due to the increasing demand for the US Dollar (USD) from importers and speculations that the US Federal Reserve (Fed) might not cut interest rates in the near future. This demand for the USD has put pressure on the INR, limiting its
Forex News
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The GBP/JPY cross experienced a boost as it attracted dip-buying near the 190.85-190.80 region following the release of upbeat UK Services PMI data. The flash UK Services PMI rose to 54.9 in April, exceeding the previous month’s final reading of 53.1. This positive data gave the British Pound (GBP) a good lift, leading to an
The Japanese Yen (JPY) has been the center of attention recently, with speculations about a possible government intervention in the markets by Japanese authorities. This intervention is seen as a key factor lending some support to the JPY, which has been hovering at a fresh 34-year low. However, despite the possibility of intervention, any significant
Japanese Finance Minister Shunichi Suzuki recently made some statements regarding foreign exchange moves. He stated that the Japanese government is prepared to respond appropriately to excessive FX moves, indicating a high level of vigilance in monitoring such movements. Suzuki emphasized that he will not comment on the current FX moves directly but assured that the
Visa Inc. (V) is currently experiencing a corrective counter-trend phase, characterized by a ZigZag structure identified as Intermediate wave (4). The direction indicates a potential bottoming out in wave (4). The analysis suggests that there may be an Intermediate wave (3) completion, given the correction’s magnitude aligning with a wave (2) of the same degree.