EUR/USD managed to post a session high 1.3997 in the wake of Trichet’s comments hitting the wires.
I’ll be buggered if I know why. Maybe that he expects the economy to decline for rest of the year, but less strongly than in the Q-1. Or maybe because he sees stabilisation, and then gradual recovery with positive quarterly growth rates by mid-2010.
Big deal. Is that anything new?
Maybe I’ve missed something. If I have answers on a postcard. Psychological 1.4000 obviously a barrier.