Nothing much came out of the ECB keeping interest rates unchanged. It was widely expected after all.
However, great insight was given in the posterior Trichet conference. Trichet took such an aggressive stance on inflation that the EUR/USD would quickly return to its usual levels. The market learned that the ECB is leaning more on the side of raising interest rates than lowering them. In fact, today's interest rate decision was not unanimous as some members argued for an interest rate hike!
Very bullish news for the Euro.
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