|
|
|
Euro rises as Trichet signals ECB rate hike this year Gertrude Chavez-Dreyfuss NEW YORK, June 5 (Reuters) - The euro rose on Thursday, rebounding from three-week lows seen earlier in the session, after European Central Bank President Jean-Claude Trichet signaled a rise in euro zone interest rates this year. Speaking after the ECB left rates unchanged at 4.0 percent, he said some ECB officials had argued for a rate hike later this year, adding it was possible to move on rates in July.
(Article continues below) "Trichet was extraordinarily more hawkish than his previous statements. He mentioned a possible move in July and that has given the euro a big boost," said Ken Landon, global currency strategist at JP Morgan Chase in New York. The ECB chief also cited rising inflation risks in the euro zone due to high food and energy costs. The euro <EUR=> gained half a percent to $1.5511, recovering from three-week troughs of $1.5366. Against the yen, the euro surged 1.3 percent to 164.58 <EURJPY=>.
|
|
|
| PRISON
PLANET.com Copyright © 2002-2008 Alex Jones
All rights reserved.
|
Yahoo! MyWeb
