Buy EURINR; target of : 90.75 : March 12, 2024: ICICI Direct

ICICI Direct’s currency report on EURINR

Euro edged lower by 0.20% yesterday amid dovish comments from the ECB Governing council members and the ECB President Lagarde last week. ECB president in her speech said that the ECB could start cutting rates as soon as June. For today, EURUSD is likely to hold the support near 1.090 level and rise towards 1.0960 level amid expectation of correction in dollar. Meanwhile, investors will remain cautious ahead of consumer price data from Germany. EURINR March may rise towards 90.75 level as long as it trades above 90.30 levels.

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12032024 – curre