ICICI Direct, The Euro depreciated yesterday on growing concerns over stagflation.
November 02, 2022 / 09:22 AM IST
ICICI Direct’s currency report on EURINR
The Euro depreciated yesterday on growing concerns over stagflation. However, sharp downside was cushioned as the ECB is likely to continue with its rate hike after CPI data showed inflation came in hotter than expected. Additionally, ECB President Lagarde said the bank must keep raising interest rates to fight off inflation, even if the probability of a euro zone recession has increased.
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02112022 – currency
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