RTRS: Euro extends gains; Trichet mum on unconventional policy
The euro extended gains against the dollar on Thursday after European Central Bank President Jean-Claude Trichet did not follow an interest rate cut with any comments about unconventional monetary policy.
The ECB surprised markets by cutting interest rates by 25 basis points to 1.25 percent, confounding expectations of a deeper cut to 1 percent. Markets are on alert for any sign the ECB will follow other central banks with unconventional policy measures to boost the money supply.
The euro was up 1.6 percent at $1.3489 , up 1.8 percent, compared with about $1.3380 when Trichet began a news conference.
