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09-04-2008, 06:30 PM
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U.S. Forex Market Commentary (FXStreet.com)
EURO The euro extended recent losses vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4325 level and was capped around the $1.4545 level. Stops were reached below the $1.4355 level, representing the 38.2% retracement of the move from $1.1540 to $1.6040. As expected, the European Central Bank kept its main refinancing target unchanged at 4.25%. President Trichet was relatively neutral in his press conference today and this caused the monetary
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