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The Euro rebounded on Thursday from a two-month low against the Dollar after European Central Bank President Jean-Claude Trichet said inflation remains his top concern, signaling the bank won't cut interest rates anytime soon. After the ECB left the benchmark refinancing rate at 4% on Thursday, Trichet told reporters that high energy and food costs mean the euro-zone still faces "a protracted period" of high inflation. Some investors had expected Trichet to temper his tough talk on inflation and focus on signs of slowing euro zone growth. That helped lift EurUsd off a two-month 1.5285, pushing it as high as 1.5442. It closed at 1.5406 up 0.4%. The ECB's continued focus on inflation at a time when global growth appears to be slowing prompted investors to reduce exposure to risk, and that boosted the low-yielding Yen that's typically used to finance risky trades.
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