As expected the ECB yesterday announced that Eurozone interest rates would remain at the hiostoric low of 1% for the next month. President Jean Claude Trichet also announced that he would be looking to tighten up measures used to support liquidity in the banking sectoe.
The foreign exchange markets reacted positively to this news and unsuprisingly the single currency continued to make gains throughout the day.
This, to me, is a clear sign that the outlook in the Eurozone is much rosier than in the UK which could continue to see the Pound go under increasing pressure during the coming weeks qand months.
Great news for those selling Euros, not so good for those needing to buy!!
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