G7 Meets - Interest Rates - UN-Interesting

G7

This Weekend the Group of 7 – Finance ministers meet in Washington and the US Dollar and FX rates appears to be high on the list of topics.

European Central Bank President Trichet has indicated that rates will stay stable as the ECB walks a tightrope of being concerned about inflation, while extremely concerned about market turmoil. He was quoted Thursday as saying, “I deplore the excessive volatility in exchange rates.”

GBP-USD

The currency markets were little changed as there were no surprises to the markets as the Bank of England cut interest rates .25% to 5.00%

 

Euro – USD

The European Central Bank left rates steady at 4.00% as expected. The currency markets had little reaction as continued intervention seems to be at work.

Jerry Furst  is an active trader, educator, and Founder of Investors Education Network (IEN), Tune into his broadcasts weekly on FX Street with "1stonForex the Week Ahead".  He is available as a Mentor and Trading Coach to Select Clients Click Here for a Free Survey and 15 Minute Consultation