Loading…
The Indian rupee was little changed on October 21 after an initial decline, trading at 82.765 per dollar. The move followed a record low the previous day and intervention by the RBI.
US Treasury yields hit multi-year highs after weak jobless claims and hawkish Fed comments, and futures priced in another 75 basis point Fed hike in November.
Expected large Fed hikes keep the dollar and US yields elevated, which pressures emerging-market currencies such as the rupee and raises the dollar cost of imports for India. Lower rupee forward premiums also signal weaker future currency values.
brecorder.comReutersOct 21, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
