Euro holds on to mild upside against the dollar on Thursday ahead of the European Central Bank (ECB) policy meeting later in the day. Surging energy prices due to the ongoing US-Iran conflict are seen pressuring central banks to hike interest rates to curb inflation. Brent oil is hovering above $100 mark adding to inflationary concerns. Meanwhile, US PPI inflation data on Thursday will also be closely monitored for more clues about the US interest rate path. Mild weakness in DXY is also supporting gains in the counter; EUR/USD is currently trading at $1.1639. On the NSE, EUR/INR futures are holding just under 111 mark.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.