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Fixed Income And Currency Market
31 Jul 2023
USD Rises as Fed Hikes Rates, INR Resilient, Oil Surges
USD rose after the Federal Reserve's 0.25% interest rate hike, 11th in 12 meetings, aiming to slow the economy and curb inflation. Unemployment claims declined in the US. INR stayed strong against USD due to improved risk appetite. Oil prices surged amid hopes of avoiding a US recession and OPEC+ meeting concerns.
Ketan Verma
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