What a day for the euro! The single currency was on a charge against the greenback and hit an all time high against the dollar to touch $1.5276, and against sterling the euro rose to 0.7557. But then speakers from the ECB, including Jean-Claude Trichet, President of the central bank, fired some warning shots across the bows of foreign exchange markets, as their relentless assault on the dollar continues to drive the euro to these records highs , which is threatening to eurozone growth. Rising European unease over the euros' gains was emphasised by Jean-Claude Juncker, chairman of the Eurogroup. He said after yesterdays meeting, “I am starting to become increasingly concerned and vigilant”. More comments which seemed to show not everyone in the eurozone is happy with the state of the euro were highlighted by the IMF’s managing director Dominique Stauss-Kahn, who seemed to blame ECB neglect of growth prospects and determination to focus on fighting inflation for the euros' strength.
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