9 Jan 2015
Profit taking boosts the euro – Investec
FXStreet (Barcelona) - The Investec Team shares the euro found some relief amidst profit taking as it climbed above $1.18 following an ECB member’s comments assuring that Eurozone in not in deflation yet.
Key Quotes
“The Euro printed new nine year lows against the US Dollar during yesterday's trade, trading into the mid $1.17 handle as the recent weak Euro moves continue ahead of the European Central Bank meeting on the 22nd of January. Some profit taking later in the session saw the pair climb back above $1.18 following comments from an ECB member stating the Eurozone is not in deflation yet, despite the negative inflation reading on Wednesday.”
Key Quotes
“The Euro printed new nine year lows against the US Dollar during yesterday's trade, trading into the mid $1.17 handle as the recent weak Euro moves continue ahead of the European Central Bank meeting on the 22nd of January. Some profit taking later in the session saw the pair climb back above $1.18 following comments from an ECB member stating the Eurozone is not in deflation yet, despite the negative inflation reading on Wednesday.”