Amit Shah dares Kejriwal to visit Shaheen Bagh, asserts Modi govt will not spare anti-nationals

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

Mumbai, Jan 29: Unfazed by his suspension from flying on Tuesday, stand-up comedian Kunal Kamra on Wednesday claimed that he once again approached television journalist Arnab Goswami, who he said was his co-passenger on a flight from Lucknow, for an "honest discussion" but was turned away.

Kamra tweeted in the morning that "Arnab Goswami was again travelling in his flight while returning from Lucknow". "I again asked him politely if he wants to have a honest discussion he with his verbal arrogant hand jester he asked me to move away & I did that (sic)," he tweeted.

The comedian was suspended from flying by IndiGo and Air India on Tuesday after he allegedly heckled Goswami aboard a Mumbai-Lucknow plane and posted a video clip on his Twitter handle.

FYI - Arnab Goswami was in my
flight again this morning while returning from lucknow... I again asked him politely if he wants to have a honest discussion he with his verbal arrogant hand jester he asked me to move away & I did that...

— Kunal Kamra (@kunalkamra88) January 29, 2020

While IndiGo suspended Kamra from flying with it for a period of six months, Air India banned him until further notice.

In a statement released on Twitter after he posted the video, Kamra said he did "exactly what Republic TV journalists do to people in their private/public spaces". Kamra stated he had not done anything criminal by allegedly heckling Goswami.

New Delhi, Apr 25: With 1,429 more COVID-19 cases reported in the last 24 hours, India's count of coronavirus cases has reached 24,506, said Ministry of Health and Family Welfare on Friday.

Out of these, 18,668 patients are active cases and 5063 cases have been cured, discharged, or migrated.

The death toll stands at 775, with as many as 57 deaths reported in the last 24 hours.

According to the morning update by the ministry, Maharashtra continues to be the worst-hit State with 6,817 cases of which 840 patients have recovered and 301 patients have died.

Gujarat now stands in the second spot with 2,815 cases, of which 265 have recovered and 127 people have died. Meanwhile, Delhi's count stands at 2,514 of which 857 patients have recovered, while 53 patients have lost their lives.

Tamil Nadu's COVID-19 figure stands at 1,755 with 866 patients recovered and 22 fatalities. Rajasthan has reported 2,034 cases of which 230 have recovered and 27 patients are dead.

Madhya Pradesh has reported 1,852 positive cases so far of which 210 patients have recovered and 92 patients have lost their lives due to the virus. In Uttar Pradesh, as many as 1,621 people have confirmed COVID-19, of which 247 recovered and 25 people have succumbed to it.

In Kerala, which reported the country's first COVID-19 case, 450 people have been detected positive for coronavirus.