• Spot rupee closed at 85.79/80 to a dollar level after opening at 85.83/84 level. The rupee traded in tight ranges today, before recovering in the last hour of trade. Equity market benchmarks ended about 0.8 lower.
• Dollar index is holding on to overnight gains and is trading higher at 97.84 level. GBP suffered more losses today after data showed UK GDP unexpectedly contracted by -0.1 m/m in May, missing expectations for 0.1 m/m growth. The weakness was driven by a sharp -0.9 m/m drop in industrial production and a -0.6 m/m fall in construction output, partially offset by a modest 0.1 m/m gain in services—the largest sector of the economy. Still, broader momentum remains positive. Real GDP rose 0.5 in the three months to May, thanks to steady growth in services (+0.4) and solid gains in construction (+1.2). Production also rose 0.2. GBPUSD is trading lower at 1.3542 level.
• From Germany, data showed that Wholesale prices in Germany rose by 0.9 year-on-year in June 2025, accelerating sharply from a 0.4 gain in the previous month and marking the fastest increase since March. On a monthly basis, wholesale prices increased 0.2, matching market consensus reversing a 0.3 fall in May. EURUSD is trading higher at 1.1688 level.

Spot rupee opens weaker at 85.83/84 to a dollar level compared to 85.69/70 previous close. Equity market benchmarks are trading about 0.3 lower today.

DXY is trading higher at 97.83 level. The Dollar is attempting to make a recovery – for the present ignoring the Tariff tantrums of President Trump after stronger than expected Weekly jobless claims. Data showed US initial jobless claims fell -5k to 227k in the week ending July 5, below expectation of 236k.