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Dollar index holds firmly above 100 mark; US PCE data in focus
Dollar index is holding firmly above 100 mark for the third consecutive session on Monday assessing geo-political situation in Middle East. As per media reports, US President Donald Trump over the weekend threatened strikes on Iran if Hezbollah keeps attacking Israel, raising concerns about progress for peace talks between Washington and Tehran. Markets now look ahead to the weeks release of the US PCE price index, the Federal Reserves preferred measure of inflation after Fed left rates unchanged last week. At the time of writing, DXY which measures the greenback against a basket of currencies was quoting slightly higher at 100.73, its highest level in more than a year. Among basket currencies, EURUSD and GBPUSD were both trading marginally lower at $1.1493 and $1.3202 respectively.
INR seen under pressure as DXY stays upbeat ahead of US data
The Indian rupee came under pressure in opening trades on Monday as dollar index remains firmly above 100 mark assessing geo-political situation in Middle East. As per media reports, US President Donald Trump over the weekend threatened strikes on Iran if Hezbollah keeps attacking Israel, raising concerns about progress for peace talks between Washington and Tehran. Markets now look ahead to the weeks release of the US PCE price index, the Federal Reserves preferred measure of inflation after Fed left rates unchanged last week. Meanwhile, INR opened at Rs 94.42 per dollar and slipped to a low of 94.48 so far during the day. On Friday, the counter ended at 94.33. Easing crude oil price from multi-year highs are however lending some support to the counter. Local equities in positive zone are also supporting rupee to some extent.
Slow motion: US companies cautious amid India's mega M&E Boom
American media giants are rethinking their India strategy. Recent years saw major players like Disney and Paramount adjust their stakes or exit operations. Lionsgate sold its streaming service. These moves reflect the challenges of India's competitive media landscape. Companies are now focusing more on content licensing rather than direct investment in local platforms.