Currency market remain closed for the day

Financial Market Overview

USDINR

The currency markets will remain closed for the day on account of Annual Bank closing.

United States 10-Year rates were 4.291% on the bond markets, while 2-year Treasury yields were 3.772%. The DXY index trading around 99.819.

 

At the time of writing, the USDINR at NDF was trading at 93.5639/93.5639.

 

EURUSD

The EURUSD pair climbed toward 1.1560 on Wednesday as the US Dollar weakened following President Trump’s announcement of a potential military withdrawal from Iran within two to three weeks, a move that significantly cooled safe-haven demand. While Iran remains cautious, demanding a permanent end to hostilities and compensation rather than a simple ceasefire, the shift toward de-escalation has allowed market focus to return to the Eurozone’s complex economic landscape. Despite March HICP inflation data coming in slightly lower than expected at 2.5%, the ECB maintains a hawkish tilt; officials like Christine Lagarde and Philip Lane suggested that persistent inflationary pressures from recent energy shocks may necessitate tighter policy, provided these geopolitical disruptions remain a significant threat to price stability.

 

At the time of writing, the EURUSD was trading at 1.1560/1.1560.

 

GBPUSD

The Pound Sterling rose to approximately 1.3242 during Wednesday's Asian session, buoyed by a shift toward riskier assets following signals of a potential end to the month-long conflict between the United States and Iran. While Iranian President Masoud Pezeshkian expressed a willingness to pursue peace under specific guarantees, the US Dollar's decline remains somewhat cushioned by persistent energy supply concerns that keep Federal Reserve easing in doubt. Despite the geopolitical thaw, oil prices have held steady due to damaged infrastructure, leaving investors to pivot their attention toward upcoming US economic indicators, specifically the ADP Employment Change and the ISM Manufacturing PMI for March.

 

At the time of writing, the GBPUSD was trading at 1.3233/1.3234.

 

USDJPY

The Japanese Yen strengthened toward the 159.00 level against the US Dollar as escalating intervention threats from Finance Minister Satsuki Katayama and hawkish signals from BoJ Governor Kazuo Ueda combined to curb speculative selling. While the Greenback remains supported by President Donald Trump’s optimistic economic rhetoric, it has eased slightly as investors weigh the impact of the ongoing conflict with Iran and upcoming employment data. With Japanese officials explicitly linking currency weakness to domestic inflation, the market is increasingly pricing in potential BoJ rate hikes to stabilize the Yen against the backdrop of volatile global oil prices and shifting geopolitical risks.

 

At the time of writing, the USDJPY was trading at 158.7920/158.80.