Defence of the well-touted 1.4000 barrier interest continues and it’s turning into quite a skirmish. The interest must indeed be quite sizeable given the choppy price action we’re seeing. One wonders how much longer the interest can remain intact. North American traders have been ready sellers of the greenback of late, so the omens don’t look good.
As expected the ECB left rates unchanged. Trichet awaited at 12:30 GMT.
