Jean-Claude says

Market movements were relatively subdued on Friday, with caution ahead of the G7 meeting and with Asian traders celebrating the Lunar New Year. Sentiment on Friday, though, remained against the euro, following Thursday’s sharp fall following the ECB meeting. The euro, however, has edged higher over the weekend after ECB President, Jean-Claude Trichet, warned markets not to bet on eurozone rate cuts. ECB’s hawk Weber this morning has again reiterated the need to contain inflationary pressures, helping maintain the euro’s firmer tone.