Euro Ends Rally on ECB Extended Stimulus
The European single currency posted its first day of decline versus the greenback this week after the regional financial regulator affirmed that some of its stimulus to help the economy to recover will last for as long as they are necessary, declining optimism towards the Eurozone.
It wasn’t a surprise that interest rates remained unchanged today in the Eurozone at a record low of 1 percent, but a comment made by European Central Bank President
Even if pessimism towards Greece faded considerably this week, the practical economic conditions in Europe seem disappoint, as data released hasn’t produced enough evidences of a solid recovery in most of EU countries using the euro, but it was definitely reduce the euro’s downtrend speed and strength.
EUR/USD traded at 1.3654 as of 14:35 GMT from as high as 1.3735 yesterday.
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Earlier News About the Euro:
- Is The Greek Crisis Coming to an End? (2010-03-03)
- Euro Up on Greek Hopes (2010-03-03)
- Euro Rebounds on Greek Crisis Comments, U.S. Home Sales (2010-02-26)
- Euro: The Endless Pit in 2010 (2010-02-25)
- Euro Suffered Again on PIGS Budget Crisis, U.S. Optimism (2010-02-23)