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Day: March 5, 2011
March 52011
Euro Rises This Week as ECB May Increase Interest Rates
The euro advanced this week despite risk aversion sentiment, caused by the unrest in Middle East, as the European Central Bank signaled that an increase of the interest rates isn’t out of question. ECB President Jean-Claude Trichet said on the press-conference in Frankfurt after the central bank kept its benchmark rate unchanged at 1 percent that “increase of interest rates in the next meeting is possible” as the inflation accelerates. This statement caught analysts by surprise […]
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March 52011
Swiss Franc Pushed Up by Demand for Safety
The Swiss franc gained as the unrest in Middle East and the surging oil prices increased appeal of safer assets, including Switzerland’s currency. The rebels in Libya advanced towards Ras Lanuf, the oil port town about halfway to the capital of the country. Meanwhile, the government forces used the tear gas and the gunfire to stop the protesters in Tripoli. The opposition claimed that the conflict already has caused 6,000 deaths. April delivery for crude oil advanced as much as 3.2 […]
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