Currency: The dollar and the rupee fall : Orishas-finance

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Currency: The dollar and the rupee fall

06/06/2025

Source : ORISHAS FINANCE

Categories: Economy/Forex

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The dollar was heading for a weekly loss on Friday, while the downward trend in the Indian rupee is expected to continue at the opening today.

The dollar was heading for a weekly loss on Friday, undermined by signs of weakness in the American economy and while trade negotiations between Washington and its trading partners made little progress despite an impending deadline.

The report on non-farm jobs in the United States, released later Friday, will be a key item for markets. It will come under closer scrutiny after a series of weaker-than-expected economic data this week highlighted the headwinds of President Donald Trump's tariffs.

Elsewhere, the Australian dollar rose by 0.06% to $0.6512 and is expected to increase weekly by 1.1%. The New Zealand dollar rose by 0.17% to $0.6048 and was also heading for a

weekly gain of 1.1%.

The downward trend in the Indian rupee is expected to continue at the opening on Friday as traders await the policy decision by the Reserve Bank of India and the US employment report expected later today. The 1-month undeliverable futures contract indicated an opening in the 85.86-85.90 range, compared to 85.79 in the previous session. Although the rupee saw slight relief on Thursday, the “general direction of travel” remains on the downside, said a currency trader at a bank based in Mumbai

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