Hi guys, I hope you are having a profitable week in FX.

Yesterday, ECB’ President Jean-Claude Trichet said inflation remains bank's top priority and signaling policy makers won't cut interest rates anytime soon, this news made euro feel stronger and it recovered from a eight-week low against dollar. On the other hand, yen rose as slumping Asian stocks prompted the investors to sell higher-yielding holdings funded in Japanese currency. Alternatively, british pound rose when Bank of England kept its interest rates unchanged at 5 percent.

Cheers!

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