Corporate foreign exchange news

Foreign currency exchange traders 'hold position following ECB decision'

Friday, 15 January 2010 09:21:38 GMT

Posted by Zeb Bham
There was little movement in the foreign currency exchange markets following the decision by the European Central Bank (ECB) to keep interest rates unchanged.
The euro fell slightly against the dollar after the decision was announced, Reuters reports, but overall the position remained relatively stable - finishing the day down 0.2 per cent.
Interest rates across Europe have remained at one per cent this month - the eighth month in a row.
Concerns over the financial situation in Greece remained, following ECB president Jean-Claude Trichet's confirmation that the country will receive no special help for its situation.
Niels Christensen, currency strategist at Nordea bank in Copenhagen, told Reuters: "A lot of people are very cautious about the fiscal situation in Greece. This seems to have stopped the uptrend in euro/dollar, although it's not enough to really hurt the euro."
The decision to keep interest rates unchanged was widely expected. Their current level is a record low for the eurozone.
For more information on foreign exchange treasury services and risk management, visit our Corporate FX site.ADNFCR-2522-ID-19559176-ADNFCR
Logo

Speak to one of the team

Please get in touch.

Contact details

Corporate FX
5th Floor, 62 Cornhill
London, EC3V 3NH
United Kingdom
Tel: 020 7743 7000
Fax: 020 7743 7001
Email: info@corporate-fx.co.uk

Contact us / Feedback

Thanks for contacting us

Map and directions

We are situated in the heart of the city of London.

Nearest tube/DLR stations:

Bank
Liverpool Street
Aldgate
Monument

Nearest mainline rail stations:

Liverpool Street
Fenchurch Street
Cannon Street

Global Reach Partners Limited; Registered in England No. 4344764. Registered for Money Laundering Regulations and Money Services
Business at Her Majesty's Revenue & Customs registrations No. 12140164. Supervised by the FSA in accordance with the payment
services regulations 2009, registration No. 504315.
© 2009 Global Reach Partners. Site credits