Tepid German inflation reading keeps Euro under check

Published on Aug 14, 2023 15:50

The Euro stayed choppy today, maintaining a tight range around one and half week lows after breaking under 1.1000 mark against the US dollar. The US dollar index hovers around 102.80 mark following good gains in last few days. Euro stayed lax amid softening inflation numbers from Germany - the leading economy in the region. In July 2023, Germany`s wholesale trade prices were 2.8% lower than in July 2022. The year-on-year rate of change was -2.9% in June 2023, and -2.6% in May 2023. This is keeping a lid on the Euro as the EURUSD pair quotes flat at 1.0967. The EURINR futures on the NSE are trading at 90.98, down 0.12% on the day. The counter has moved in a range of 91.02-90.75 during the day so far.