Monday 07, July 2008 by
A busy week in numbers
In a busy week in numbers and statements, the foreign exchange market has witnessed volatile trading sessions, with the dollar weakening until Thursday afternoon, and then recovering across the board. Prior to the ECB’s interest rate decision, the euro rallied all the way to the 1.59 level, but a dovish European Central Bank (ECB) statement pushed it back to the 1.56 area in few trading hours. Sterling also rallied earlier last week and reached the psychological level of 2.00 on Tuesday before dropping back to the 1.98 level on Friday.
