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FOREX MARKET ANALYSIS
Monday, December 01, 2008 12:27 CET
Increasing Pressure on ECB to Lower Rates Soon
The weekend`s close in Forex was focused on the euro, which tended weaker again in several pairs and crossings. The market suspects that euro interest rates will be much lower in the near future sooner than was expected, with the ECB explaining loudly why the bank now could lower interest rates because of defused inflation danger (tongue in cheek, actually the ECB should explain why they must lower the rates, under any circumstances, because the Europeans would risk another fainting spell in their banking system, European style of course, country by country). With that scenario, the loser of the year seems to be the euro, not the British pound, which, having tended weaker earlier this year, is now showing a remarkably stable stance.
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REALTIME CURRENCY QUOTES
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