The euro also lost ground due to comments from European Central Bank President Jean-Claude Trichet, who reiterated the view that European officials have been concerned that the strength of the currency will stem the regions recovery, as the export sector may be weakened. The head of the ECB mentioned that currency movements ‘have adverse implications’ and would be on topic at the weekends’ G7 meeting.
However, at the G7 meeting ministers stopped short of directly criticizing the strength of the euro and the weakness of other major currencies, which gave investors more confidence in the currency and caused Sterling to fall over the weekend. Expectations that the Bank of England would hold rates at a low for longer than other central banks also weighed on the pound.
The coming week sees interest rate decisions for both the BoE and the ECB. The Euro’s prospects are likely to be driven by any comments about its strength from European Central Bank President Jean-Claude Trichet following the interest-rate meeting.
The BoE is expected to maintain its current stance on asset purchases and keep interest rates at a record low, with the European Central Bank expected to keep rates on hold but may make further talk on exiting its loose monetary policy. This could cause further Sterling weakness, so contact your account executive early to discuss the possibilities of locking in current rates before the market prices in these future movements.
Hi,
Can anyone please tell me the Best Forex Trading Workshop in Bangalore. Please also suggest their style of trading i.e Candle stick patterns, Technical indicators etc
Thanks
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names for the faces on the paper currency
hi i have been looking for a good forex scalping method which really works ?if anyone know about it let me know i would be verythankful .thanks
Is there a forex signal service/software that alerts it’s users when a currency crosses an overbought or oversold line on the stochastic and williams study indicators?
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