RTRS: Euro briefly trims losses as ECB's Trichet speaks
The euro briefly pared losses against the dollar in volatile trade on Wednesday following comments about liquidity measures from European Central Bank President Jean-Claude Trichet.
The euro traded as high as $1.3310 EUR=EBS on trading platform EBS, compared with around $1.3275 before Trichet started the press conference.
"The abundance of liquidity measures (Trichet) announced shows the ECB's resolve to boost liquidity and that is quite satisfactory to the market," said Kathy Lien, director of FX research at GFT in Jersey City, New Jersey.
The bounce quickly faded, however, as some analysts said the ECB is still behind the curve in taking measures to boost growth and help the euro zone weather the debt crisis.
The euro later fell back to around $1.3258 and was last at $1.3288, down 0.4 percent on the day. (Reporting by Wanfeng Zhou and Nick Olivari; Editing by Theodore d'Afflisio)
