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Currency Markets Show Divergent Trends: Euro Steady, Dollar Weakens, Rupee Tumbles
Currency Markets Show Divergent Trends: Euro Steady, Dollar Weakens, Rupee Tumbles
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BTCCSquare news:
The euro finds stability against a volatile US dollar as Treasury yields edge higher, while Asian currencies—particularly the Indian rupee—face steep declines. The rupee plummeted to 89.93, nearing an all-time low of 90, as the Reserve Bank of India abstained from intervention. Meanwhile, the DXY index hovers NEAR 99.4, reflecting the dollar's 8.5% annual drop amid trade tensions and sluggish US jobs data.
European debt markets show resilience, with 10-year yields rising 3.12%, while US Treasuries dip below 4%. The dollar's failure to hold the 100 level signals further downside toward the 98-99 range. Currency traders brace for continued volatility as macroeconomic headwinds persist.
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