Indian Trade Secretary says a deal with the EU is very close but there's still room for further negotiations to solve various issues

Indian Trade Secretary says a deal with the EU is very close but there's still room for further negotiations to solve various issues.

The Indian Trade Secretary's comments indicate a significant advance in negotiations with the EU, which could improve market sentiment towards risk assets tied to both economies. While the proximity to a deal is positive, the mention of ongoing negotiations suggests potential volatility as traders will be watching for final terms and any changes that may arise. This dynamic will likely influence currency flows, particularly in the USD, EUR, and relevant emerging market currencies.