The US dollar remains strong near six-week peaks. Traders are watching for a Middle East war resolution and the Federal Reserve’s next move on interest rates. Rising energy costs could push inflation higher, influencing the Fed’s decision. Currencies like the Euro and Yen face pressure. Australia grapples with energy shortages. Japan’s core inflation slowed, impacting its currency.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.