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Euro Largely Steady Ahead Of ECB; EURINR Slips Below 89.20

Published on Sep 14, 2023 15:09

Euro is seen largely steady against the dollar on Thursday after lingering near a three month low against the dollar as investors await crucial ECB data due later in the global day. ECB action in today`s policy meet would be crucial to decide direction of the single common currency. Besides, dollar failed to provide definite direction after US CPI inflation figures. The annual core inflation print, which has a heavier weight for central bank policy decisions, slowed to 4.3% in August from 4.7% in July. Meanwhile, the annual headline inflation rate in the US rose for a second consecutive month to 3.7% in August, exceeding market expectations of 3.6%. The dollar index stayed muted around 104.39. EURUSD is currently quoting at $1.0733, almost flat on the day. On the NSE, EURINR September futures contract extended decline below crucial support of 89.20 and is currently trading at 89.14, down 0.04% on the day.

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