Moneycontrol
Jun 19, 2017 10:53 AM IST | Source: Moneycontrol.com

EURINR is expected to trade lower: Angel Broking

According to Angel Broking, in the last week, the Euro spot traded higher by 0. 04 percent (EURUSD) and 0. 25 percent (EURINR) after both the debt - ridden nation i.e.

EURINR is expected to trade lower: Angel Broking

Angel Broking's currency report on EURINR


In the last week, the Euro spot traded higher by 0. 04 percent (EURUSD) and 0. 25 percent (EURINR) after both the debt - ridden nation i.e. Greece and its international creditors reached on a bailout deal of €8.5 billion loan amount.  This helped the shared currency to stay higher. Furthermore, weakness in the American currency  after  the release of US budget deficit which surged to $88.4 billion in  May’17 from $53 billion a year earlier on the back of increased  government spending in areas such as Medicaid and defense. This pushed the American currency lower in turn acting as a positive factor for the share d currency. Today, EURINR spot is likely to trade lower.

OUTLOOK
Today, EURINR spot is likely to trade lower.

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