Euro is extending decline this week near a two-week low amid recovery in dollar from a three year low amid escalating tariff led concerns. EURUSD pair is seen trading at $1.1732, down 0.1% on the day. Trump announced a new round of tariffs for a batch of US partners, and that the European Union will be among them this time. The US President announced that the European Union (EU) will be included in the next batch of tariff letters and raised blanket levies for all other countries to 15% or 20% from the previous 10%. Meanwhile, lingering threat to inflation from tariffs are likely to convince the US Federal Reserve (Fed) to hold off on cutting interest rates until next year and in turn, could continue to support the greenback. Also, data revealed by the US Department of Labor showed that the number of Americans filing for unemployment benefits was below estimates and the previous print, indicating a solid economy. The dollar index that measures the greenback against a basket of currencies is quoting at 97.47, up 0.15% on the day and is set for 0.6% weekly gain after the index fell under 97 mark last week. On the NSE, EURINR is seen marginally lower at 100.53.

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