Fixed Income And Currency Market

7 Aug 2023

USD rises despite downgrade; INR weakens, oil surges

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USD ended the week higher despite Fitch's credit rating downgrade of the United States. Slowing job growth raised hopes for a soft economic landing, yet higher wages may necessitate prolonged Federal Reserve interest rates. INR weakened amid overall risk aversion. Crude oil benchmarks rose with Brent at USD 85.25 and WTI at USD 81.73 per barrel.

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Ketan Verma
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