Asia FX weakens, dollar strong amid speculation over rate cuts, tariffs

The Indian rupee USDINR has been experiencing notable fluctuations in recent months. As of today, the rupee has strengthened to 84 per US dollar, marking its highest level since October 2024. This appreciation is driven by heavy selling of the dollar by foreign banks and consistent foreign fund inflows. Key Factors Influencing the Rupee: Foreign Investments:…

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United States President Joe Biden has vetoed a resolution that would have overruled the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121. The controversial decision was immediately met with criticism from the cryptocurrency industry. “We’re disappointed that the admin chose to overrule bipartisan majorities in both Houses of Congress who recognized…