EURO EDGES LOWER AS DOLLAR REBOUNDS; EURINR DOWN AROUND HALF A PERCENT

Published on Nov 22, 2023 14:56

Euro is edging lower on the back of dollar recovery overseas. EURUSD pair is quoting at $1.0907, down 0.19% on the day. The pair is seen easing from a three month high hit yesterday amid hawkish comments from ECB Lagarde. President Lagarde stated at a Berlin event that it is too early to declare victory over inflation and our monetary policy is in a phase where we need to be attentive to the different forces affecting inflation � but always firmly focused on our mandate of price stability. Besides, a modest recovery in the greenback following FOMC minutes that sounded cautious and indicated that interest rates could remain restrictive for some time kept a lid on euro gains. The dollar index that measures the greenback against a basket of currencies was at 103.69, up 0.23% on the day. On the NSE, EURINR futures stayed choppy through the day and were seen quoting at 90.76, down 0.46% on the day.