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Old 06-10-2008, 12:10 PM
Clever111 Clever111 is offline
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Join Date: Oct 2007
Posts: 29
Default European Central Bank announces of a possible interest rate hike next month

Hi guys. My last strategy was to move from Dollars to Euros, but this seemed not to be a good idea at the end

European Central Bank's announcement of a possible interest rate hike next month sparked off chaos among investors who started buying Euros dumping the dollar. Ken Landon, a global currency strategist at JP Morgan Chase in New York, said: "Trichet was extraordinarily more hawkish than his previous statements. He mentioned a possible move in July and that has given the euro a big boost."

The euro gained half a percent to $1.5511. Against the yen, the euro surged 1.3 percent to 164.58.

I hope I will make it right next time :$
Cheers!
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