Corporate foreign exchange news
Foreign currency exchange traders 'hold position following ECB decision'
Friday, 15 January 2010 09:21:38 GMT

Posted by Zeb BhamThere 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.

