Euro Consolidates Near $1.0980 Levels; US Data Awaited

Published on Jan 10, 2024 17:08

Euro is consolidating in a narrow range against the dollar on Wednesday as dollar steadies ahead of crucial US inflation data that is expected to provide further clarity on Federal rate stance. EURUSD pair is quoting at $1.0981, a near three-week low and up 0.23% on the day amid slight weakness in the greenback overseas as cautious sentiments mount ahead of the data. The US Dollar Index (DXY) faced selling pressure around 102.14 as 10-year US Treasury yields have dropped slightly below 4.0%. On the NSE, EURINR stayed choppy and settled for the day at 91, marginally lower on the day.