Euro Surrenders $1.06 Ahead Of Fed Decision; EURINR Futures Plunge Over 1%

Published on Nov 01, 2023 17:16

Euro came under severe pressure against the dollar during the European session on Wednesday as dollar staged a good rebound ahead of FOMC scheduled for later in the day. Investors are cautiously the outcome of the Federal Reserve`s monetary policy meeting for clues on the interest rate trajectory. The dollar index bounced higher tracking rise in treasury yields near 4.9%. DXY is currently trading at 106.73, up 0.22% on the day and rebounding from yesterday�s low of 105.73. EURUSD is seen trading at $1.065, down 0.35% on the day. On the NSE, EURINR futures plunged sharply lower by over 1% to settle at 88.01.