Euro reached a new historical maximum against the U.S. dollar today after another European Central Bank official stated that the bank will be acting thoroughly in order to keep the consumer price inflation rate down.
According to Christian Noyer, the ECB is not going to ease the monetary policy because of the strong inflation in Eurozone. And while some European countries vote for a weaker euro (to support national exporters), ECB is standing strongly against any actions that will accelerate the CPI, which is above the current central bank’s target rate.
Many currency analysts expect euro to continue its bullish trend against the greenback as it’s now clear that the European interest rates are not going to be reduced in the near months. EUR/USD can reached 1.6500 in the next 3 to 6 months according to them.
Existing home sales in U.S. also helped dollar to fall against the euro — according to the report by the National Association of Realtors in March they fell from 5.03 million to 4.93 million (at annual rate).
EUR/USD went up from 1.5910 to 1.5996 today on Forex with the daily maximum at 1.6011- a new absolute record for this currency pair.
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