Euro & Yen Strengthen on Trade Optimism
U.S. Dollar Stabilizes The dollar remained steady late on July 24 after the European Central Bank (ECB) left interest rates unchanged at 2% The Economic Times. Investors now await upcoming U.S. economic data and the Federal Reserve’s policy decision next week
Euro & Yen Strengthen on Trade Optimism The euro approached a four-year high, trading around USD 1.1766–1.1776, while the yen rallied amid renewed confidence following U.S. trade agreements with Japan and the EU
GBP Weakness on UK Fiscal Concerns The pound hit a four-month low against the euro and weakened to approximately USD 1.346 against the dollar, pressured by slow retail sales and IMF warnings about the UK's debt and fiscal constraints
Pakistan Cracks Down on Black-Market Dollar Trading Pakistan's intelligence agency intervened to curb dollar speculation, leading to a one-rupee appreciation in the rupee on July 24 following military-led actions to stabilize the currency
South Africa Seeks Foreign Currency Financing After resolving a major budget impasse, South Africa is seeking at least $500 million in forex funding for fiscal year 2025–26, favoring ESG-linked instruments in the initiative