Trichet did not try to talk down the euro with any vigor whatsoever. He seems perfectly happy with the single currency around 1.4400. My guess is he would have put up a bit more of a fuss than to merely repeat that he “notes with interest” that the US has a strong dollar policy. What is even more interesting to me is the fact that the EUR has been unable to rally significant despite the laissez-faire attitude of. M. Trichet.
EUR/USD is slipping again, now at 1.4375. Bids are eyed in the 1.4350/60 region with stops below 1.4350 and expecially below 1.4338, the old 2009 high.
