Euro stays cautious ahead of ECB decision; EUR/INR futures jump above 103 mark

Euro is staying cautiously lower against the dollar ahead of ECB interest rate decision lined up for the day. The European Central Bank is expected to maintain the Main Refinancing Operations Rate at 2.15% in September. EURUSD pair is holding at $1.1696, down 0.11% on the day tracking mild gains in the greenback. The dollar index that measures the greenback against a basket of currencies is quoting at 97.46 with all eyes on August US consumer inflation data due for the day for further cues on Federal rate decision. Data yesterday showed US Producer Prices rose less than expected in August, reinforcing the view that the US central bank will deliver rate cuts at its upcoming policy meeting. Meanwhile, escalating geopolitical tensions in Europe and the Middle East are also boosting safe-haven flows in dollar. On the NSE, EURINR futures are marginally up at 103.40.

Powered by Capital Market - Live News