Intra-day update: rupee registers gain against US dollar

The Pakistani rupee registered marginal improvement against the US dollar, appreciating 0.06% during the opening hours of trading in the inter-bank market on Thursday. At 10am, the currency was hovering at 280.70, a gain of Re0.16 against the greenback. On Wednesday, the local unit closed at 280.86. Globally, the US dollar held just below multi-month highs on Thursday, with a recovery in appetite for riskier assets pulling it off recent peaks, while sterling was under pressure ahead of a Bank of England meeting where investors anticipate a dovish tone. At $1.1495 against the euro the dollar hasn’t budged a great deal, though it sits a fraction weaker from Tuesday’s three-month top of $1.1469. Some of the largest movers overnight were the risk-sensitive Australian and New Zealand dollars, which tracked a rebound in the stock market, as a sharp selloff in technology shares abated.