The Indian rupee has hit a historic low versus the dollar due to rising crude oil prices, raising concerns about inflation and import costs.
UBS has revised its USD/JPY outlook due to rising oil prices and the Bank of Japan's cautious stance, signaling potential volatility in currency trading.
The U.S. dollar is stable as traders await the Fed's interest rate decision, while the Australian dollar dips following a disappointing CPI report.
The rise of algorithmic trading is reshaping the forex market dynamics, prompting banks to reassess their strategies amid growing nonbank competition.
The British Pound dropped amid rising Iran tensions and oil market concerns, affecting inflation and the upcoming FOMC meeting decisions ahead.
Bank of America forecasts increased pressure on the Korean won due to rising outbound investments from South Korea, impacting its exchange rate against the US.
The Japanese yen is gaining strength as the BOJ signals a hawkish policy shift, while the U.S. dollar remains stable amid Fed and Iran concerns.