Purchase EURINR; Goal: 90.00: ICICI Direct, February 12, 2024
ICICI Direct Due to a declining dollar and an increase in German bond rates, the euro gained 0.05% on Friday. Following strong remarks made by Kazak, a member of the ECB Governing Council, the yield on the 10-year increased.
ICICI Direct's EURINR currency report
Due to a declining dollar and an increase in German bond rates, the euro gained 0.05% on Friday. Following strong remarks made by Kazak, a member of the ECB Governing Council, the yield on the 10-year increased. For today, the soft dollar, dovish remarks from ECB officials, and positive emotions in the global market are expected to sustain the EURUSD at 1.0770 levels and push it upward towards 1.0830 levels. Investors will continue to monitor euro zone economic statistics in the meantime for hints about the direction of policy. As long as it stays over 89.40 levels, the EURINR might appreciate above 90.00 levels in February.
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