9/6/2008 - the current market senitment |
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The single currency retraced most of its gains after the US labor report which has shown a surprising increase of the unemployment rate to 5.5% in May from just 5% in April. The pair has found difficulty to stand above 1.58. The ECB president Trichet's comments in his press conference after the ECB decision to hold the interest rate unchanged last Thursday that there can be a rate hike for stalling price stability over the medium term after the increased threats of inflation
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