EURO CLIMBS ABOVE $1.09 MARK; ECB AWAITED

Published on Dec 14, 2023 15:31

Euro climbs above $1.09 mark for the first time in two weeks amid sharp slide in dollar overseas. Dollar turned bearish following dovish tone in Federal Reserve�s FOMC policy outcome overnight that suggested that the central bank would leave interest rates unchanged while also indicating a possible rate cut next year through its dot chart. The dollar index that measures the greenback against a basket of currencies fell sharply alongside a deep slide in US treasury yields and is seen currently trading at 102.17, down 0.30% on the day. EURUSD is now quoting at $1.09, up 0.13% on the day. Meanwhile, all eyes are now glued on ECB interest rate decision later in the day. On the NSE, EURINR futures pair is seen quoting at up more than 1% at 90.94.