Euro Falls Across The Board After Trichet Comments

www.MarketCall.net - Mei 06 2011


LONDON -- The euro fell across the board Thursday after European Central Bank 
President Jean-Claude Trichet hinted that a rate rise in the euro zone at the 
bank's next meeting was unlikely, disappointing investors hoping for a hawkish 
tone. 

The single currency shed more than 1.4% against the dollar, trading the day's 
low, from $1.4827 before Trichet's comments hit the wires. Trichet said the 
bank's policy stance remains accommodative, instead of using the phrase "strong 
vigilance" euro bulls were hoping for. 

By effectively ruling out a rate increase in June, the comments caused the 
single currency to dump on the crosses as well.


Source : 
http://marketcall.net/2011/05/06/euro-falls-across-the-board-after-trichet-comments/


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