Euro Rebounds on Speculation ECB Will Act

The euro rebounded from four-year lows Wednesday amid market speculation that European authorities are preparing a response to the common currency's rapid decline.

Some speculation in the market that the European Central Bank could take steps to try to arrest the euro's decline—which could be becoming too rapid—has helped boost the currency. The ECB declined to comment.

The ECB "does not mind a lower euro," said Brian Dolan, citing the market chatter that the central bank could intervene in markets. "They just don't want to see it happen in two days, a week or 12 hours." Whether or not anything pans out, it "increases the two-way traffic" in the euro, Mr. Dolan said. "It's no longer a one-way street, and not just about dumping the euro."

Read Full Article from Wall Street Journal

- Posted: 2010-05-19 09:39:33

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