The euro slightly fell against the US dollar after European Central Bank president Jean-Claude Trichet failed to signal that Europe's central bank is planning to buy sovereign bonds to contain the present turmoil in financial markets.
The euro fell 0.16% to $1.3118 at 1:40pm, as Trichet was answering questions from journalists during a press conference in Frankfurt.
Credit and equity markets had risen this morning on expectations that the ECB would signal its determination to contain the crisis from spreading to other countries, such as Portugal and Spain.
The euro fell 0.16% to $1.3118 at 1:40pm, as Trichet was answering questions from journalists during a press conference in Frankfurt.
Credit and equity markets had risen this morning on expectations that the ECB would signal its determination to contain the crisis from spreading to other countries, such as Portugal and Spain.
