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Forex: Thursday's review
The euro remain near its highest level in more than a year after European Central Bank President Jean- Claude Trichet said today’s interest-rate increase wasn’t necessarily the “first of a series.”
The ECB raised its key rate by 25 basis points to 1.25 percent.
The euro eased a bit versus its major peers after Portugal’s Prime Minister, Jose Socrates, said yesterday the nation was seeking financial assistance from the European Union.
Portugal plans to make a formal written request to the European Commission for financial aid, government minister Pedro Silva Pereira said in Lisbon. A rescue package for Portugal may be worth as much as 75 billion euros ($107 billion), two European officials with knowledge of the situation said.
The yen strengthened against the dollar after reports of a 7.4 magnitude earthquake off Japan’s coast and tsunami warnings.
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