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Rupee to weaken after Pakistan official’s comments heighten cross-border risks

MUMBAI, April 29 (Reuters) – The Indian rupee is set to weaken on Tuesday after comments from Pakistan’s defence minister warning of an imminent military incursion by New Delhi raised concerns about a further increase in tensions between the two neighbours. This comes after a deadly militant attack on tourists in Kashmir last week, for which India has blamed Pakistan. The 1-month non-deliverable forward indicated that the rupee will open at 85.12-85.16 to the U.S. dollar compared with 85.03 in the previous session. Following the remarks by the Pakistan official late on Monday, the 1-month USD/INR NDF briefly touched 85.50

Gold declines as trade war concerns ease, US data in focus

April 29 (Reuters) – Gold fell on Tuesday as softening trade tensions between the U.S. and its trading partners dulled the metal’s safe-haven appeal, while investors awaited U.S. economic data to assess the Federal Reserve’s policy path. Spot gold fell 0.4% to $3,329.12 an ounce as of 0211 GMT. U.S. gold futures lost 0.2% to $3,342.40. “The risk environment has clearly improved recently, with market participants buoyed by optimism that the worst of the trade tensions may be behind us amid encouraging rhetoric around trade deals,” said IG market strategist Yeap Jun Rong. U.S. Treasury Secretary Scott Bessent said on

Pakistan defence minister says military incursion by India is imminent

ISLAMABAD, April 28 (Reuters) – Pakistan’s defence minister said on Monday a military incursion by neighbouring India was imminent in the aftermath of a deadly militant attack on tourists in Kashmir last week, as tensions rise between the two nuclear-armed nations. The attack killed 26 people and triggered outrage in Hindu-majority India, along with calls for action against Muslim-majority Pakistan. India accuses Pakistan of backing militancy in Kashmir, a region both claim and have fought two wars over. “We have reinforced our forces because it is something which is imminent now. So in that situation some strategic decisions have to

Opposition MPs demand special session of Parliament on Pahalgam terror attack

New Delhi, Apr 28 (PTI) More opposition MPs on Monday joined the call for convening a special session of Parliament in the wake of the Pahalgam terror attack. Rashtriya Janata Dal (RJD) MP Manoj Jha wrote to Prime Minister Narendra Modi, while Communist Party of India (CPI) MP P Sandosh Kumar sent a letter to Parliamentary Affairs Minister Kiren Rijiju, urging them to convene a special session of Parliament to express the will of the nation and send a message of unity. Independent Rajya Sabha MP Kapil Sibal had on Sunday requested political parties to urge the government to convene

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