The euro rose today during the early Forex trading session, as the European politicians changed their mind on the ECB interest rate policy and traders became more confident that Jean-Claude Trichet won’t reduce the rates this week.
The U.S. dollar gained against the euro today on Forex market for a third day in a row, as the yesterday’s U.S. fundamental data reassured traders that the Federal Reserve will keep the interest rate unchanged on its next week meeting.
Euro reached a new historical maximum against the U.S. dollar today after another European Central Bank official stated that the bank will be acting thoroughly in order to keep the consumer price inflation rate down.
The U.S. dollar decline versus the European currency has slowed down recently as the investors relied on the intervention by the G7 to overcome the global currency imbalance and strengthen the dollar.
The U.S. dollar fell down to another historical minimum level against the euro today, as the strong technical resistance has been breached and the fundamental economic statistics in U.S. has failed to keep the USD up on the Forex market.
Italy’s soon-to-be newly elected prime minister, Silvio Berlusconi, pledged to ally with the president of France, Nicolas Sarkozy, in his strife to persuade ECB to weaken the united Europe’s currency by the means of the intervention.
Both Bank of England and the European Central Bank acted as expected today during their monetary policy meetings — BoE cut the interest rate to 5.00% and ECB left them unchanged at 4.00%.
The U.S. dollar stopped its 2 days growth period and started to go bearish against other currencies today after the Asian trading session ended. Investors’ attention turned to the Fed chairman Ben Bernanke’s testimony before the U. S. Congress that is scheduled for today.
The currency of the United Europe reached a new record high level against the British pound today as the estimate for the consumer inflation in Eurozone rose unexpectedly in March.
The U.S. dollar went down to the new record low levels against the European and Japanese currencies today during the Asian trading session on Forex as the Federal Reserve cut the discount interest rate in emergency.