{"id":100646,"date":"2020-05-29T06:11:13","date_gmt":"2020-05-29T10:11:13","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100646"},"modified":"2020-05-29T09:52:07","modified_gmt":"2020-05-29T13:52:07","slug":"103307-usd-pkr-rupee-sinks-to-4-week-low-trumps-speech-awaited","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103307-usd-pkr-rupee-sinks-to-4-week-low-trumps-speech-awaited\/","title":{"rendered":"USD\/PKR: Rupee Sinks To 4 Week Low, Trump\u2019s Speech Awaited"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/pkr-pakistani-rupee-live-exchange-rate\/\">Pakistani Rupee<\/a> (PKR) extends losses in risk off trading ahead of Trump\u2019s speech<\/strong><\/li>\n<li><strong>SBP revealed that foreign currency reserves fell -0.46% on weekly basis<\/strong><\/li>\n<li><strong>US Dollar (USD) investors look to PEC and personal spending data<\/strong><\/li>\n<li><strong>At 10:15 UTC, USD\/PKR +1.2% at 162.62 &gt; <a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-pkr-exchange-rate-today\/\">Real time exchange rate<\/a><\/strong><\/li>\n<\/ul>\n<p>The Pakistani Rupee is continuing its descent versus the US Dollar on Friday. The Rupee settled on Thursday -0.5% at 161.47.<\/p>\n<p>At 10:15 UTC, USD\/PKR is trading +1.2% at 162.62, slightly off the 4 week high of 163.55 reached earlier in the session.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-pkr-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time USD to PKR exchange rate<\/span><\/a><\/div>\n<p>Broad risk off sentiment owing to rising US \u2013 China tensions is weighing on demand for riskier currencies such as the Pakistan Rupee. Relations have been cooling across the week after China imposed a national security law on Hong Kong, restricting freedom in the financial hub. Trump is expected to respond in a speech later today. The tone of his speech will set the risk tone going into the weekend.<\/p>\n<p>Domestically, the State Bank of Pakistan revealed that foreign currency reserve held by the central bank fell by -0.46% on a weekly basis. On 21<sup>st<\/sup> May the foreign currency reserves held had decline by $55 million to $12,073.9 million. \u00a0According to the SBP the decline in reserves was owing to external debt repayments.<\/p>\n<p>The US Dollar will also look towards Trump\u2019s speech for direction. A strong response from Trump could boost safe haven demand for t he greenback.<\/p>\n<p>Federal Chair Jerome Powell is also due to speak on Friday. However, given his numerous appearances over the past few weeks analysts are not expecting anything new from Mr Powell.<\/p>\n<p>On the US economic calendar investors will be looking ahead to Personal Core Expenditure (PCE) and personal spending data. PCE is the Fed\u2019s preferred measure of inflation. Analysts are expecting PCE to decline -0.3% month on month in in April, after a -0.1% decline in March.<\/p>\n<p>Persona spending is expected to have dived -12.6%, down from -7.5%. This isn\u2019t that surprising given that over 40 million Americans have filed for unemployment benefits over the two months since the coronavirus crisis started.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistani Rupee (PKR) extends losses in risk off trading ahead of Trump\u2019s speech SBP revealed that foreign currency reserves fell -0.46% on weekly basis US Dollar (USD) investors look to PEC and personal spending data At 10:15 UTC, USD\/PKR +1.2% at 162.62 &gt; Real time exchange rate The Pakistani Rupee is continuing its descent versus [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":83379,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1863,1381],"tags":[1399,2613,1867,1864,1400,1397,1398],"class_list":{"0":"post-100646","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-pkr","8":"category-usd","9":"tag-china","10":"tag-foreign-exchange-reserves","11":"tag-pakistani-rupee","12":"tag-pkr","13":"tag-trump","14":"tag-us-dollar","15":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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