herald

Tuesday 21 August 2018

Euro rise is halted

THE rise of the euro was halted after speculation of an interest-rate rise was dampened.

Jean Claude Trichet, president of the European Central Bank (ECB), said that inflation would remain contained and quelled rumours of an imminent rate increase.

The euro had been rising since the start of January amid the speculation. But after Mr Trichet's statement, the euro hit a two-week low and the currency was roughly unchanged against the dollar as the latest session continued today.

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