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.
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.
European leaders decided to include the strong euro reference to their two-day Brussels meeting conclusion, which is to be released today.
The U.S. dollar reached a new historical minimum against the euro today; it also fell below the 12-year old minimum level against the Japanese yen on the expectations of the more interest rate cuts from the Fed.
The U.S. dollar has lost a fourth straight week against the European currency (and against the pound and the yen as well) as the whole week was filled with the bad economic news from the United States.
The U.S. dollar continued its weekly decline today, as the market participants awaited the results of the European Central Bank and the Bank of England monetary meetings.
The Great Britain pound fell to its lowest historical value against the euro today after the pessimistic economic news were released in UK. Pound also lowered against other major currencies today.
The U.S. dollar fell below its absolute record low level against the European currency today. If the day closes above $1.5 per euro, it will be a signal for a definite return of dollar to its bearish trend of the 2007.