By 10:25am, the rupee was at 279.67, reflecting an increase of Re0.2 against the dollar.

Meanwhile, the euro reached four-month highs against the US dollar, driven by a rise in European bond yields linked to Germany’s proposed €500 billion ($539.85 billion) infrastructure fund and changes to borrowing limits.

The US dollar remained near a four-month low against a range of major currencies, as President Donald Trump’s administration granted a one-month delay on auto import tariffs for Canada and Mexico, highlighting the quickly changing trade environment.

Risk-sensitive currencies like the British pound and Australian dollar gained, with the pound reaching a four-month high. The Australian dollar hit a one-week peak, supported by strong domestic economic growth and promises of additional stimulus from China, its largest trading partner. The offshore yuan was close to Wednesday’s nine-day high.

The US dollar index was stable at 104.31 after dropping to 104.25 overnight, marking its lowest point since November 8. However, the US dollar rose 0.2% against the safe-haven yen, trading at 149.17 yen.

The KSE-100 Index climbed more than 700 points during the early trading session on Thursday.

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Dollar mauled by Trump trade war; German ‘bazooka’ blasts bonds

Rupee sees minor gain of 0.01% against dollar in early trading

Pakistani rupee steady against US dollar in interbank market