US dollar skids ahead of Fed minutes

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New York, Aug 19 | The US dollar dipped noticeably in late trading on Tuesday as market participants cautiously awaited the meeting minutes from the Federal Reserve.

The dollar index, which measures the greenback against six major peers, slipped 0.63 per cent at 92.2782.

In late New York trading, the euro was up to $1.1936 from $1.1864 in the previous session, and the British pound increased to $1.3240 from $1.3101 in the previous session. The Australian dollar rose to $0.7243 from $0.7207, Xinhua reported.

The US dollar bought 105.39 Japanese yen, lower than 106.03 Japanese yen of the previous session. The US dollar fell to 0.9028 Swiss franc from 0.9063 Swiss franc, and it decreased to 1.3158 Canadian dollars from 1.3196 Canadian dollars.

The Fed is set to publish the minutes from its latest policy meeting on Wednesday. The dollar has weakened considerably since the US central bank’s aggressive move to maintain market liquidity amid the coronavirus pandemic.

Meanwhile, experts noted that uncertainty in US politics is likely to pressure the greenback.

“The market would have to be prepared for further uncertainties and possible (negative) surprises in US politics even if the US stock market might react positively short-term,” Antje Praefcke, analyst at Commerzbank, said in a note on Tuesday, adding “the downside risks for the dollar will continue to dominate one way or the other.”

Source: IANS

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Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Drummi Bhatt has successfully donned many hats including that of a global strategy professional, mentor, and investor to early-stage startups encouraging women entrepreneurship, and a philanthropist.

Drummi currently leads Market Intelligence and Strategy team at Mitsubishi Power, USA building corporate-level strategies for global markets. Drummi is also the founder of KarmaKonnect, a Woman and Rural Empowerment Non-Profit Organisation which works for projects in remote rural, tribal, and conflict areas.

Her philanthropy work has taken her to various corners of India, including, far end corners of Leh, Ladakh, Telangana, and remote areas of Chambal. During these visits, she got mesmerized by culturally rich, vernacular, and diverse, the true “Bharat”.

During her interaction across the country, she got enchanted by the whirlwind of talent residing across Bharat, which is not restricted to a language, city, or just tier-1 cities but is found in abundance all across tier-2, tier-3 cities, and rural-tribal clusters.

With OTT platforms ruling the world in 2020, Drummi decided to bring her strategic insights and data analytics strength to this field by joining hands with seasoned entrepreneurs, Rahul Narvekar and Narendra Firodia, to launch its kind, vernacular OTT platform, Letsflix.

In 2019, Drummi, Rahul, and Narendra have successfully launched India’s first vernacular infotainment app, LetsUp, which now caters to 1.5 million users and in 7 vernacular languages, a feat achieved by none. The trio has now been passionately working towards creating and delivering vernacular content for every viewer in India with Letsflix.

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