Euro losing strength against Dollar

Friday, 10 June 2011 12:35

The European currency saw a great loss after yesterday's ECB interview with Trichet.  Throughout the day, the 17-nation currency was trading high at 1.4650 against the Greenback.  The pair didn't last, and tumbled down to 1.4550 after Trichet's speech began.  Rate was announced to remain unchanged.  By the end of the interview, the Euro was seen to be struggling to stay over the 1.45 level; shortly after, the pair fell to 1.4480.  The losses continued till today, as EUR/USD is currently trading at 1.4483.

As the Euro is losing ground against the Dollar, EUR/GBP is keeping steady at 0.8990.