EUR/USD nearing 2-week high; deteriorating Eurozone investor sentiment index caps upside

Euro is climbing near a two-week high against the dollar on Monday amid a pullback in greenback as US private jobs data last week indicated a weak labor market, supporting the US rate cuts. US Challenger job data showed that companies cut over 150,000 jobs in October, marking the biggest reduction for the month in more than 20 years. DXY pulled back under 100 mark attained last week. On Friday, the University of Michigans consumer sentiment index also fell to its lowest level in nearly three and a half years as the US government shutdown extended to the longest in history, adding pressure on the greenback. EUR/USD is currently quoting at $1.1591, up 0.08% on the day and its highest level since late October. However, the pair came under pressure after data from Eurozone docket showed Sentix Investor Confidence Index deteriorated to -7.4 in November from -5.4 in October. On the NSE, EUR/INR futures are up 0.18% at 102.74.

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