EUR/USD extends downside near 15-month low
Mumbai, Oct. 1 -- The euro is seen extending decline to its lowest level in over 15 months against the dollar on Thursday tracking firmness in dollar index amid an extended rise in US Treasury yields. EUR/USD is quoting at $1.1353, down 0.14% on the day as DXY hovers above 101 mark. Expectations of softer stance on interest rate hikes by ECB than Fed are seen dragging the counter lower. European Central Bank (ECB) Christine Lagarde said on Tuesday that rising bond yields will curb economic expansion and limit the transfer of elevated energy costs to inflation. She added that the central bank should adopt a "measured response as appropriate to keep inflation in check" with second-round effects so far absent. Moreover, a subdued eurozone gr...
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