Euro under stress, Fed seen holding policy restrictive

Published on Aug 08, 2023 15:29

The EURUSD pair dipped under 1.1000 mark and added to losses today as the US dollar stayed supported and pressed other major currencies lower. The ability of the US dollar index to hold on above 102 mark despite moderation in the nonfarm payrolls data. NY Fed President Williams said that expects that Fed policy will need to be kept restrictive for some time. The single currently quotes at 1.0990, down 0.29% on the day. On the NSE, the EURINR futures are hovering 90.98, almost unchanged on the day.