EURUSD pair is seen extending gains from an eight week low on Wednesday amid a slight pullback in the greenback overseas. The counter however continues to stay short of reclaiming back $1.08 levels and the pair is currently quoting at $1.0779. Breaking the psychological level of $1.08 will be crucial for the counter to exert upward pressure. Meanwhile, European Central Bank (ECB) executive board member Isabel Schnabel said on Wednesday, we must be patient and cautious as inflation can flare up again. A separate data from German economic docket showed industrial output in the Eurozones top economy declined 1.6% on month in December as against the -0.4% expected and a 0.7% drop recorded in November. German Industrial Production tumbled at an annual rate of 3.0% in December versus Novembers -4.8% slump. The EURINR futures pair on NSE are also following gains from the international counterpart and trading in positive region at 89.48, up 0.21% on the day.
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