ICICI Direct's currency report on EURINR
Euro gained by 0.18% yesterday amid weak dollar and optimistic global market sentiments. Additionally, better than expected economic data from euro zone and hawkish comments from ECB supported single currency. For today, EURUSD is likely to hold the support near 1.0690 level and rise towards 1.0770 level amid soft dollar and rise in risk appetite in the global markets. Meanwhile, investors will remain cautious ahead of ECB President Lagarde speech and economic data from euro zone to get fresh cues on interest rate outlook. EURINR Feb may rise towards 89.50 level as long as it trades above 88.80 levels.
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