RTRS: Euro gains on expectations for euro zone rate outlook
NEW YORK, June 4 (Reuters) - The euro returned to positive territory against the dollar in volatile trading on Thursday as European Central Bank President Jean-Claude Trichet did little to change expectations for interest rates in the euro zone.
"Trichet's not giving an inch as far as encouraging any loosening expectations," said Boris Schlossberg, director of FX research at GFT Forex in New York. "Some in markets wanted to see a hint of another 25 basis-point cut in the second half. He's admitted they'll have negative growth this year but says it will recover in 2010. It sounds like they want to keep things steady for the time being."
The euro was last up 0.1 percent at $1.4172, according to electronic trading platform EBS.
