The single currency has put positions against 15 of the 16 major competitors. The reason was a press conference by Jean-Claude Trichet, in which he noted that downside risks to growth have increased, thereby depriving investors hopes for an early rise in interest rates. Chief currency strategist at Royal Bank of Scotland in London, Paul Robson, said that the ECB has lowered the forecast for GDP and inflation is much stronger than expected by market participants. He adds that investors are only beginning to realize that by the end of the year the ECB could lower interest rates. The single currency has lost 0.8% against its American rival, and stayed in the area of $ 1.3987. Earlier, the euro / dollar at $ 1.3945 touched on, which was the lowest since July 12. Euro against the Japanese yen weakened to 0.7% and traded in the Y108.15. EUR / GBP fell by 1.1% and reached stg0.8721. Current euro / dollar $ 1.3976.
