Euro Extends Gains Above $1.06; EURINR Reclaims 88 Mark

Published on Oct 10, 2023 17:02

Euro is extending advance above $1.06 against the dollar on Tuesday. Gains in the single common currency come on the back improving risk sentiment that led to pull back in dollar index below 106 mark. Besides, dovish Fed on further interest rate hikes is also keeping treasury yields and dollar subdued. Meanwhile, European equities also rallied with the pan European STOXXX 50 up 1.75 percent at 4184.55. The German DAX jumped 1.6 percent, while France`s CAC 40 and the U.K.`s FTSE 100 both added more than 1.5 percent. EURUSD was currently quoting at $1.0618, up 0.2% on the day. On the NSE, EURINR pared some of its intraday gains but still managed to settle for the day at around 88.2, up 0.41% on the day. Going ahead, ECB`s President Christine Lagarde speech will be watched.