Corporate foreign exchange news

Euro support remains strong

Monday, 07 March 2011 08:54:46 GMT

Published by Jamie Jemmeson
The euro has continued to trade near the highs reached at the end of last week ahead of a speech by European Central Bank (ECB) leader Jean-Claude Trichet.
Last week, Mr Trichet suggested that the ECB could raise interest rates next month as part of a bid to tackle inflation.
Investor confidence is also expected to have risen this month, Bloomberg reports, citing its own survey of economists questioned ahead of the release of a confidence report from Sentix.
The single currency is expected to remain well supported over the coming months as the ECB works to tackle inflation.
A divergence in monetary policy over the coming months will work in favour of the euro, head of market economics and strategy at ANZ National Bank in Wellington Khoon Goh told Bloomberg.
The euro could reach highs not seen since early November as investors expect to see continued gains for the currency.
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