Euro Rises Before ECB Meeting, But Rally May Be Short-Lived

The euro rose today as the Governing Council of the European Central Bank will meet tomorrow and may find solution to the continuing problem with the sovereign-debt in Europe.

The President of the ECB
Jean-Claude Trichet hasn’t ruled out the possibility of increasing government bonds buying, though he remains reluctant to do so. The Stoxx Europe 600 index of stocks gained 0.7 percent. Despite today’s gains the analysts remain pessimistic about the shared European currency and consider the rally to be short-lived.

EUR/USD went up from 1.2981 to 1.3068 as of 10:09 GMT today. EUR/JPY jumped from 108.64 to 109.47.

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