eToro – Forex Trading Forum

[zoe147]

Euro ended up being the top mover today, falling sharply against dollar and sterling after surprised comments from ECB council member Mersch. Mersch pointed out there are \"certainly downside risks to economic activity\" and ECB should exercise caution as such risks to economic growth increases. Mersch also said that he did not rule out a downward revision of growth forecasts for the Eurozone in 08. Even though HICP inflation remains far above ECB's target at 3.1% yoy, as reported earlier today, Mersch said that \"ECB can look through temporary inflation jump\". In separate occasion, Weber also said that \"current inflation rates should not be over-dramatized\".