Euro pares losses against the U.S. dollar in currency trading
The euro has erased its losses against the U.S. dollar in currency trading this morning. After leaving the ECB interest rate the same, Trichet made hawkish comments concerning inflation. With concern about inflation still present in Europe, the euro is likely to maintain its strength against the U.S. dollar in currency trading. Bloomberg reports on the euro in forex trading:
Policy makers ``stand ready to counter upward pressure on
price stability,'' Trichet said at a press conference in
Frankfurt today.
Topic Tags: currency trading, ECB interest rate, euro currency trading, euro forex trading, forex trading, Trichet, U.S. dollar, U.S. dollar currency trading
Forex Trading involves high risks, with the potential for substantial losses and is not suitable for all persons. Past performance is not necessarily indicative of future results. These resources and the information provided herein should not be relied upon as a substitute for extensive independent research. These resources and the information they contain does not take into account any particular individual's investment objectives, financial situation, or needs. Any projections or views of the market provided by the authors may not prove to be accurate. GFT will not be responsible for any losses on investments made by readers as a result of the information contained in this column. GFT does not render investment, legal, accounting, tax or other professional advice. You may want to consider contacting a competent professional prior to making investment decisions. (c) 2010 Global Futures & Forex, Ltd. All rights reserved
