Currency Note Euro

Euro supported by comments from the ECB President

By Smart Currency December 30th, 2013

The euro reached a 2 year high of 1.3895 against the US dollar on Friday and was supported on Friday as the ECB president all but ruled out another cut to the main interest rate as he suggested there was no sign of deflation. Moreover, the head of the German central bank said that the ECB must “raise rates at the right time should inflation pressure mount” hinting that the central bank is not against raising interest rates. On the data front this week, there is a benchmark 10 year bond auction in Italy today, manufacturing PMI data released across Europe on Thursday and data showing the change in Spanish unemployment released on Friday. Call your trader now for a price on the euro.