European leaders decided to include the strong euro reference to their two-day Brussels meeting conclusion, which is to be released today.
Earlier today, this conclusion was expected to come out without a notice about the fast appreciation of the euro against the U.S. dollar. But that point didn’t please the French delegation including the president Nicolas Sarkozy.
The French finance authorities started to insist on some real actions against the current pace of the euro’s appreciation a while ago — in February, during the world finance ministers’ meeting.
The conclusion just summed up the words that were said yesterday and today during the meeting. EUR/USD broke through 1.5600 level this week, adding a lot of Forex related pressure on the European producing companies.
For the traders, investors and common people, including such conclusion can possibly mean a beginning of the official EU’s measures against the European currency’s strength. If Jean-Claude Trichet gets convinced with it, we may even see a benchmark rates’ cut in the Eurozone soon.
Earlier today, this conclusion was expected to come out without a notice about the fast appreciation of the euro against the U.S. dollar. But that point didn’t please the French delegation including the president Nicolas Sarkozy.
The French finance authorities started to insist on some real actions against the current pace of the euro’s appreciation a while ago — in February, during the world finance ministers’ meeting.
The conclusion just summed up the words that were said yesterday and today during the meeting. EUR/USD broke through 1.5600 level this week, adding a lot of Forex related pressure on the European producing companies.
For the traders, investors and common people, including such conclusion can possibly mean a beginning of the official EU’s measures against the European currency’s strength. If Jean-Claude Trichet gets convinced with it, we may even see a benchmark rates’ cut in the Eurozone soon.
ليست هناك تعليقات:
إرسال تعليق