Excerpt from: GFT Analysts in the News
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| May 05, 2008 | | Euro turns around in currency trading | After showing weakness against the US dollar in forex trading last week, the euro is on the rise. Mainly, it is due to the fact that the ECB is not expected to cut rates, and that the interest rate is likely to remain where it is at for now.
For now, it is too late for ECB officials to rescind their hawkish stances on interest rates and inflation, so it is expected that the euro will get a little more strength in currency trading versus the US dollar. But things could change as the year progresses.
| Topic Tags: currency trading, ECB rates, euro currency trading, euro forex trading, euro interest rates, forex trading, US dollar forex trading | |
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