What a day for the euro as it hit another record of $1.5395 yesterday and above $1.54 today

What a day for the euro as it hit another record of $1.5395 yesterday and above $1.54 today against the
greenback. This was the seventh session in eight after the ECB kept interest rates steady and offered no hints
that it may be planning rate cuts. Comments from ECB President Jean-Claude Trichet triggered the move for
the euro against the dollar as he said he was confident the ECB’s current monetary policy “will contribute” to
reining in inflationary risks and supporting economic growth. This left the market in no doubt where the ECB’s
priorities lie when it comes to their view on inflationary risks.
Data at 11.00am: German Industrial Production expected at 0.3% from 0.8% previous.
Speakers: ECB’s Constancio at 9.00am