ECB Increases Rates as Trichet Warns of 'Exploding' Inflation

Buying single currecy at falls likely to be fruitfull. The dollar looks set to fall through support at 1.60 in the coming days and 1.70 euro/dollar looks like a very real possibility by the end of September. Longer term, the likelihood of a sharp long recession in the U.S. could well see the euro reach 1.80 or even 2.00 against the dollar (as sterling did to the surprise of many in recent years).