Yesterday, EURINR spot plunged by 0.46 percent on account of weak employment data from Spain. Furthermore, strength in the American currency post the robust release of manufacturing data from the US added to Euro’s fall.
Drop in the borrowing costs across the euro area after some ECB policymakers commented on having doubts about signaling a move away from an ultra-easy monetary policy stance this month brought a degree of comfort to a battered bond market. Today, EURINR spot is likely to trade lower.
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