EUR/USD approaches 1.2000 mark, gains nearly 2% this month

Euro marked a strong gain in last session, rising around 1% in intraday moves and holding around four-year highs against the US dollar. EUR/USD is currently seen quoting at $1.1917, almost unchanged on the day. The pair zoomed nearly 2% this month, matching its gain in August 2025 and extending an overall impressive run as markets eye Federal Reserve first interest rate cut in 2025 on Wednesday. The yield on the US 10-year Treasury is also holding around five-month low. On the NSE, EUR/INR futures are trading at 104.25, up 0.11% on the day after hitting 104.40 mark in early moves.

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