NVIDIA (NVDA.O) CEO Jensen Huang met with French President MACRON.

The IMF warned UK Chancellor John Healey to be cautious in deploying cost-of-living support, saying broad or prolonged measures could risk a renewed rise in inflation. It advised indebted countries, including the UK, to confine relief to targeted, temporary measures to avoid undermining price-stability efforts. The IMF said UK growth should exceed previous forecasts, projects average inflation of 3.3% this year and 2.8% in 2027, and judges the UK close to achieving fiscal sustainability.

The Reserve Bank of India said it has widened foreign-exchange controls to support the rupee, citing persistent pressure from high oil prices and foreign capital outflows and adding restrictions aimed at preventing certain derivative trades from weighing on the currency. The rupee rose as much as 0.6% on Tuesday to 95.2550 per USD, after a 1% gain on Monday; it remains down more than 5% year-to-date and among the weaker Asian currencies. Kunal Sodani, head of funds at Shinhan Bank Mumbai, said arbitrage in the FX market has been largely suppressed and the new measures further that aim to manage market behaviour and volatility; he expects the rupee to trade in a roughly 95.30–96.00 per USD range in the near term.