Angel Broking's currency report on EURINR
Euro Yesterday, Euro currency spot traded higher by 0. 05 percent (EURUSD) and 0.28 percent (EURINR) mainly due to weak US Dollar Index which failed to give any reaction to the US Fed Chair’s speech. Janet Yellen did not give any clear information with respect to balance sheet reduction. She reiterated that the US economy was in a healthy state and that the unemployment at 4.5 percent suggested 'full employment'. However, sharp gains were restricted as growing geopolitical tensions in Middle - East, Korea and France has infused fears in the minds keeping the shared currency pressurized. Today, EU RINR spot is expected to trade sideways to higher.
OUTLOOK
Due to all the above factors, EURINR spot is expected to trade lower.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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