The euro dollar exchange rate today is 0.810% higher with EUR USD at 1.3446. The euro pound exchange rate is 0.233% higher with EUR GBP at 0.8646. The euro has managed to scrape back this week’s losses against the US dollar, on the back of news that the ECB were to freeze interest rates at 1.5% and plans to buy €40bn of bank bonds. "Traders took this with great delight and shifted out of the safe haven yen and dollar, creating a spike in the euro. The euro is trading against the dollar at 1.3455 having rebounded on its last support level and after yesterday’s moves, we could see the euro have a bit of a squeeze to end the week," says a note from Richard Driver at exchange rate services firm Caxton Fx. The euro enjoyed some further upside amid encouraging news for struggling European banks. The euro is heading for its first five day gain in three weeks thanks to the ECB’s efforts to stabilize European banks. Banking shares rallied and the session was certainly a good one for risk appetite. Whether this continues into the weekend will be determined by this afternoon’s US jobs data. EUR USD is trading well off its lows now, and is approaching the much stronger level of $1.35. How much further the euro can push on from here is a doubtful considering the eurozone issues that remain regardless of yesterday’s ECB news.

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