Overall,global currencies faced additional pressure from US President Donald Trump’s tariff threats, which could drive up inflation and limit the Federal Reserve’s ability to further reduce interest rates.

• The euro rebounded slightly from a three-month low as the EU vowed to retaliate against US tariffs, but remains weak after the European Central Bank (EBC) cut rates, and hinted at further easing in March, with markets now expecting the deposit rate to fall to 1.87% by year-end.
• The British pound attempted a rebound from a three-week low, as markets adjusted rate cut expectations.  The Bank of England clarified that it was looking to more measured rate cuts this year.
• The Indian rupee continued to rise, hovering around 86.7 and reaching a nearly two-week high amid central bank intervention.