Trichet
Better Market Tone Tuesday
February 9, 2010
Commodity currencies have firmed against the U.S. dollar, and the euro and Swissy have recovered, too, despite continuing worries about Greek, Spanish, and Portuguese public finances. The greenback fell 0.9% against the kiwi, 0.7% against the Australian dollar, 0.4% against the euro and Swiss franc and 0.3% relative to the Canadian dollar. The yen lost [...] More
Greece Default Fears Send Euro Lower
January 15, 2010
Trichet’s unbending remarks that Greece will not get special policy favors to address its huge government deficit has weighed sharply on the euro, which, along with the Swiss franc, fell 0.8% against the dollar. One wonders if one intent of Trichet’s stance on Greece was in fact to temper the euro. The dollar also gained against [...] More
No Announced Changes at ECB Press Conference
January 14, 2010
ECB President Trichet unveiled no new policy steps today, nor did his verbal characterization of the euro area economy and ECB policy intentions break any new ground through the addition of new ideas or deletions of prior ones. Current rates are appropriate. Growth, which continued to be positive last quarter, has benefited from some temporary [...] More
