The rupee fell toward a seven-week low!

1) China will allow the Yuan to be exchanged directly for British pounds from today in Shanghai as the world’s second-largest economy promotes the use of its currency in global trade and finance.

2) U.K. government bonds advanced for the first time in five days as minutes of the Bank of England’s June 4-5 meeting showed no policy makers voted to raise the benchmark interest rate from a record low.

3) The rupee fell toward a seven-week low on concern India’s trade balance will deteriorate and inflation will quicken as violence in Iraq boosts oil prices.

Read full report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

New Zealand’s dollar surged the most in four months

Cuurency Today’s Headlines

1) New Zealand’s dollar surged the most in four months after the central bank raised interest rates and flagged further increases, boosting demand for the nation’s currency.

2) The pound appreciated for a seventh day versus the euro, extending the longest run of gains since September, as signs the U.K. economy is accelerating pushed the currency to its strongest level in 18 months.

3) South Korea’s government bonds rallied, pushing the three-year yield down by the most in five months, as the nation’s central bank said a strong won will have an adverse impact on growth.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf