GBPINR FUTURES HOVER JUST BELOW 106 MARK

Published on Nov 29, 2023 17:31

GBPINR futures trimmed some of its intraday gains but managed to settle for the day higher at 105.67, up 0.35% on the day. During intraday moves on the NSE futures, the pair climbed to a high 105.98. Meanwhile, UK pound failed to hold on to early momentum above $1.27 mark. Small rebound in dollar overseas restricted gains in the British currency. Currently, GBPUSD pair is quoting at $1.2686, down 0.12% on the day. During the day, the pair strengthened to $1.2735 supported by weakness in greenback and US treasury yields. The dollar index was quoting at 102.82, up 0.16% on the day. Dollar�s decline earlier in the day was backed by remarks by Federal Reserve Governor Christopher Waller that Fed is done raising interest rates. Speaking at an American Enterprise Institute event, Waller said he is "increasingly confident that policy is currently well positioned to slow the economy and get inflation back to 2 percent." Meanwhile, data from UK showed mortgage approvals surged in October, despite elevated borrowing costs. According to the Bank of England�s latest Money and Credit report, net mortgage approvals jumped to 47,400 from 43,700 a month previously.