FXstreet.com (Barcelona) - The Euro has retreated from lows around 1.5140 to 1.5080 low as Jean Claude Trichet spoke, after the ECB released its decision to maintain Refi Rate at 1.0%.
The Euro has declined from 1.5140 high to 1.5085 after Trichet's speech to pick up and reurn to levels above 1.5100 at the time of writing.
Jean Claude Trichet has affirmed that interest rates remain at appropriate level, while he assured that the ECB will continue to issue ample liquidity to the Eurozone Banking sector, although he affirmed that 12-month refinancing operations will be ended next March.
This month's lending Operations will be offered at a rate indexed to relevant market rates, instead to a fixed rate, as they were offered up till now.
Trichet also expressed its support to the Dollar affirming that the European Central Bank has a very important stake in a strong US Dollar.
Furthermore, Trichet affirmed that Eurozone GDP will grow at a moderate pace in 2010 while warning about that economic expansion iwill be uneven and highly uncertain.