EUR/USD at around 4-week low

The Euro extends recent streak of decline amid tight moves and lingers around a four week low against the dollar on Wednesday. Firmness in dollar on safe haven demand amid ongoing geopolitical issues is adding pressure on the pair. Besides, softer-than-expected inflation figures from Germany and the downward revision of December's S&P Global manufacturing PMI data also hammered the single common currency. Germany's consumer price inflation eased more than expected to its lowest level in over a year in December. EUR/USD is currently trading at $1.1720, down marginally on the day. All eyes are now glued to US economic reports, mainly employment data for further cues on Federal policy stance. On the NSE, EUR/INR futures are down 0.40% at 105.36.

 

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