FXstreet.com (Barcelona) - The Euro has gained around 60 pips against the Dollar in the last hour from 1.3052 to reach the 1.3113, fresh intra-week high. Currently the pair is trading around 1.3105 level, fighting to consolidate the position above 1.3100 after rising 0.65% so far today from opening price.
According to Michael Malpede, Analyst at Easy Trader, Euro is Higher as ECBs Nowotny says the ECB is ready to use quantitative ease and risk appetite recovers: EUR traded mixed initially pressured by rising risk aversion and a statement from the ECB's Nowotny that the ECB may be ready to use quantitative ease... Concern about the spread of swine flu and US bank fears sparked safe haven demand for USD and JPY. Fear of possible swine flu pandemic and report that US regulators have told Bank of America and Citibank that they may need to raise more capital sparked risk aversion and flight safety demand for the USD. US Bank stress test results are due on May 4th.
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