Moneycontrol
Feb 16, 2017 10:46 AM IST | Source: Moneycontrol.com

EURINR is expected to trade higher: Angel Broking

According to Angel Broking, Euro traded lower yesterday as US inflation increase in January was the largest increase since February 2013 and puts pressure on the US Federal Reserve to follow a more aggressive round of interest rate rises.

Angel Broking's report on currency

EURINR
Euro traded lower yesterday as US inflation increase in January was the largest increase since February 2013 and puts pressure on the US Federal Reserve to follow a more aggressive round of interest rate rises. Also, Euro is pressurized as Euro zone inflation is seen at 1.7% in 2017 and 1.4% in 2018, below the central bank’s target of “below, but close to 2% over the medium term. Due to all the above factors, EURINR is expected to trade higher today.  

OUTLOOK
Due to all the above factors, EURINR is expected to trade higher today.

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