Treasury

EUR/USD
The Single currency nosedived to $1.0246 as surging European gas prices worsened economic growth fears and  sizeable European Central Bank rate hikes could reignite another euro zone debt crisis.

GBP/USD
The Cable tumbled to $1.1927 as political crisis heaped pressure after the resignation of two senior UK cabinet while the Bank of England (BOE) also released a report conveying the grim economic outlook.

USD/JPY
The Japanese yen gained to 135.35 despite a strong dollar as Risk-off impulse increased appetite for safe-haven assets and on rising expectations for higher price pressures which will keep inflation well above 2% target level this year.

AUD/USD
The Aussie dollar dropped to $0.6786 after fears of global recession slugged commodity prices and China's another round of lockdowns weighed on the pair.

USD/CAD
The Loonie plunged to 1.3052 as Crude oil prices fell more than 6% amid the worsening demand outlook ahead of Canada's employment report  due on Friday.

USD/ZAR
South Africa's rand lost ground to 16.57 as elevated energy and food prices are triggering demand destruction which is now starting to weigh down more on the pair ahead of FOMC minutes later during the day.

USD/MUR
The dollar-rupee rallied to 45.95 (Selling) on central bank intervention.