EUR/USD reached to the 1.4100 level before pausing. The single currency is now consolidating gains around the 1.4090 level. Look for buying to pick up if we break above 1.4110 on a sustained basis.
Trichet says he hopes yields spreads will narrow in the euro area after the new policies adopted at the EU summit late last week. The European public demands stable prices, the ECB chief says.He says the existing EMU stability pact plus added surveillance from the recent euro pact add up to “quasi-federalization”.
