Daily Forex News

During early European deals on Tuesday, the British pound pared the gains it posted in Asian trading against other major currencies as UK’s annual inflation slowed more than expected in October. The pound eased from a 5-day high against the euro and a 6-day high against the franc and the dollar.

Tuesday, the Indian rupee slumped to its lowest level in nearly 3-weeks against the US dollar as a fall in stock prices increased expectations of further foreign fund outflows from local shares.

Tuesday morning in Asia, the US dollar gained ground against its most major Southeast Asian counterparts on concern recessions in the world’s largest economies will curb demand for the Southeast Asian countries’ exports and assets.