Dovish comments from European Central Bank President Jean-Claude Trichet pushed exchange traded funds (ETFs) tracking the euro’s movements against the dollar lower on Thursday.
Trichet at a press conference hinted the ECB may not hike rates in June as some currency traders have expected following earlier hawkish posturing. The ECB on Thursday left rates unchanged.
CurrencyShares Euro Trust (NYSEArca: FXE) was down 1% at last check. The currency ETF has been rising in 2011, benefitting from a weaker dollar. The euro ETF was up 11% year to date as of May 3, according to Morningstar.
CurrencyShares Euro Trust
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