The euro’s morning dive has continued this afternoon, with the currency sliding further against the dollar.
The euro is now at $1.4583. Trichet’s dovish comments about future rate hikes have, apparently, surprised the market. No rate hike is expected next month, with July still remaining a possibility.
Note, the sharp selloff on Trichet’s original comments (the absence of strong vigilance in particular), the follow on slide, and now the renewed selling.
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