Euro stronger as ECB tightens up on debt

THE ECB’s decision not to increase the availability of debt to boost growthin the eurozone has resulted in the euromaking strong gains in recent days.

By late yesterday afternoon the euro was trading at over $1.40 to the dollar as ECB president Jean Claude Trichet made clear his beliefthat markets, and notgovernments, should determine international exchange rates.

Mr Trichet has taken a different view on the currency question with the Bank of Japan and China determined to allow their currencies to fall against the dollar.