Euro Fluctuates; Trichet Refrains From Announcing More Easing
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The euro fluctuated versus the dollar after European Central Bank Jean-Claude Trichet refrained from announcing new measures to calm financial markets.
Europe’s common currency depreciated against the Swiss franc as Trichet said the central bank will keep mopping up extra liquidity from its bond purchases, disappointing some traders who bet on so-called quantitative easing. Trichet, speaking at a press conference in Frankfurt, signaled policy makers will continue emergency stimulus measures “with full allotment as along as needed, and at least until April 12.”