Currencies

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"The first thing Trichet needs is support from his colleagues -- if only the head of the ECB says he doesn't welcome this, it's not enough," she said. "We have to have a choir of all the ECB talking together, and only if this doesn't work will we have an intervention."

I expect a joint intervention by FED, ECB and maybe some asian banks not before the EUR/USD is at 1.45. That was the price of the "calculated-back-then-Euro" in 1980 and 1992. At least that would give them the advantage of moving with technical players. So keep an eye on that level.