There could be one more rate hike before RBI hits the pause button.
ICICI Direct’s currency report on EURINR
The Euro edged higher on Tuesday amid a sharp rise in German 10 years bond yields. Meanwhile, sharp upside was capped as the Euro Area economy expanded 1.9% YoY in the last quarter of 2022, the least since contractions in 2021 and matching the initial estimate • We expect the Euro to trade with a positive bias for the day amid a rise in German government bond yields. Meanwhile, market participants will closely watch key economic data from the euro area and ECB President Lagarde’s speech for more signs on ECB rate hike path. EURINR (February) is likely to continue its upward trade towards the level of 89.50.
For all Currency report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
15022023 – currency
