FXstreet.com (Barcelona) - The Euro has bounced from levels right above 1.4750, reaching session high at 1.4800, as Trichet spoke about currencies on its first press release after the ECB's monetary policy decision.
Jean Claude Trichet, affirmed its conviction that the excess of volatility is negative for financial stability, while he stressed out the importance U.S. support for a strong Dollar.
Furthermore, Trichet, the ECB's president has affirmed that there are increasing signs of stability on the markets although uncertainty remains at high levels and considers current interest rates at 1.0% as appropriate.
According to Trichet, Eurozone Economy is recovering, and consumer prices will start to increase over the coming months. The ECB expect Eurozone's GBP to drop 4.1% in 2009 and grow around 0.2% during 2010, while inflation is estimated to grow 0.4% this year, and 1.2% in 2010.