Euro slipped today, adding to sharp intraday losses in last session as highs around 1.1700 mark failed to sustain amid broad geopolitical worries. UN Conference on Trade and Development has stated in a latest update that the European Union, as a net importer of oil, will face a higher oil import bill. While demand for fuels in the region has become more elastic since 2022 making the displacement of other import segments less likely; the energy shock confronts Europe as it prepares for the 2026-2027 heating season. This raises the potential of sustained price increases. Escalating oil prices are thus keeping a lid on Euro right now and EUR/USD pair pulled back to 1.1606 today ' testing its lowest level in six-weeks. On NSE, EUR/INR futures are quoting at 112.51, up marginally on the day amid mostly choppy trades.
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