Currencies | Jan. 31, 2025 – Page 3

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Currencies

Euro Falls, Yen Rises Amid Rate Speculations

The euro dropped below $1.038, hitting a two-week low, as weaker economic data fueled expectations of more European Central Bank rate cuts.
The Japanese yen strengthened as expectations grew that the Bank of Japan will continue raising interest rates this year.
The British pound hovered around $1.24, slightly below a three-week high reached early in the week, with traders digesting key monetary policy decisions from major central banks and assessing the economic outlook for the UK.
The Indian rupee weakened past 86.6 per USD, approaching the record low of 86.7 earlier in January amid aggressive liquidity injections and the resulting expectations of anticipated rate cuts by the RBI.