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Al Bawaba
March 7th, 2008 - 03:58 GMT

Euro 'Surges' to New High as Trichet Fears 'Strong Upward Pressure on Inflation'

The ECB held key rates at 4.00 percent and pushed the sinking US dollar into troubled waters as ECB President Trichet signaled that ‘strong upward pressure on inflation’ will remain their central focus. The EUR/USD pair touched an all time high of 1.5379, while the Swiss Franc picked up the most gains against the crumbling dollar. The British Pound also advanced against the US dollar to hit a daily high ...
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