Euro ignores ECB reticence
MARKET NEWS
The euro continues to pay little attention to eurozone monetary policy or economic data, says Matthew Clements, economist at Prebon Yamane in London
Despite a further 50 basis point rate cut from the US Federal Reserve this month, the European Central Bank left rates unchanged at 3.75% at last week's governing council meeting. This should be no surprise to the market in view of comments made by European Central Bank members at the previous weekend's G7 finance minister's meeting in Washington
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