British Pound net speculative shorts at three-year high
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Business Standard
4 days ago
- Business Standard
British Pound net speculative shorts at three-year high
Large currency speculators sharply added to their net long positions in the Pound futures market to a near 6-month low, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Pound futures, traded by large speculators and hedge funds, totaled a net short position of -33308 contracts in the data reported through August 5, 2025. This was a weekly addition of -21275 net long contracts and pulled net shorts to around three-year high.
India.com
5 days ago
- India.com
US to destroy Chinese hypersonic missiles through satellites...from laser to hit-to-kill, how will the Golden Dome work?
The United States is moving forward with the Golden Dome air defense initiative, and the government has committed billions of dollars to the project. US defense manufacturer Lockheed Martin is setting a unique target under this program. The company is setting a target for 2028 to test a space-based missile interceptor, which can hit hypersonic missiles. Lockheed Martin has stated it will be ready for on-orbit demonstration by 2028 and will be able to intercept hypersonic missiles. U.S. adversaries such as China, Iran, and Russia all have hypersonic missiles. The Israel–Iran conflict has proven that even the most advanced air defense systems cannot fully stop complex ballistic missiles 100% of the time. The U.S. has THAAD and PAC-3 air defense systems, but they are questionable. One of the main characteristics of these missiles is that they travel at exceedingly fast speeds and can change direction unpredictably, which is difficult for the purposes of reliable target detection and interception using radar and interception technology. 'I believe, based on the sheer numbers they're asking about, it's going to take more than just one big prime (contractor). It might take multiple of us, as well as a lot of the rest of the industry,' Amanda Pound, director of advanced programs development at Lockheed Martin was quoted as saying by The EurAsianTimes. Pound stated, 'The goal is to field an on-orbit demonstration of a space-based interceptor by 2028.'
Economic Times
6 days ago
- Economic Times
India's forex reserves tumble most in 2025 as RBI steps in to stem rupee slide
Synopsis India's foreign exchange reserves experienced a significant $9.3 billion drop in the week ending August 1, 2025, marking the sharpest decline of the year. This fall is attributed to the Reserve Bank of India's likely intervention to stabilize the rupee amidst escalating trade tensions with the US, triggered by tariff impositions and outflows from equity markets. Reuters Representational India's foreign exchange reserves posted their sharpest weekly decline in 2025, as the Reserve Bank of India (RBI) likely intensified efforts to curb the rupee's slide against the dollar amid mounting trade tensions between New Delhi and foreign exchange fell by $9.3 billion in the week ending August 1, the steepest since mid-November, RBI data published Friday foreign exchange reserves stood at $688.9 billion as on August 1, down from all-time high of $704.89 billion reported in end-September 2024. At the current level, reserves are sufficient to cover more than 11 months of merchandise data for weekly fall in FX reserves coincides with the US President Donald Trump's July 30 announcement of imposing 25% tariff on Indian exports to the US. This led to a fall in the rupee, which closed at a record low against the dollar the next day. This week Trump slapped an additional 25% tariffs, effectively raising total US duties to 50%, because of India's continued imports of Russian oil. Outflows from local equity markets have also kept the rupee under pressure. According to Gaura Sengupta, chief economist, at IDFC First Bank, out of the total weekly fall, around $6.9 billion was account of the RBI's intervention, where it net sold dollars and $2.1 is due to revaluation loss because dollar had strengthened in that period. 'The RBI's intervention had seen through July and even in August given the pressure on the currency because of tariffs. The data for the next week (August 8) is also expected to show a fall because of the intervention as well as maturity of $5 billion dollar-rupee swaps,' she RBI stated stance has been that it intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange currency assets, which form over 84% of the total reserves, fell by over $7 billion. These assets are maintained as a multi-currency portfolio comprising major currencies, such as, US dollar, Euro, Pound sterling, Japanese yen, etc but expressed in dollar terms.
