In early trading session in Europe Euro unexpectedly interrupted its upward movement, which started in Asian session. The dealers report that the word ECB council member manager Lorenzo Bini Smaghi could serve as a reason that "increase of the interest rate by 25 basic points may return the inflation to 2% level”. Such comments allow the possibility that EZB may increase the rate one time and market participants did not miss the chance to sell European common currency. Especially s the cross with the yen was strongly sold, putting pressure on the another crosses with the Japanese currency. The course Euro/Yen fell to a minimum near Y167.06 after the execution of stop in breaking level at Y167.20. According to dealers, now EUR/Yen has chance to continue falling to the level of more powerful bits at Y166.60. EUR/USD tested the figure at 1.5500 on downward movement, but was supported and protected from further losses by demand in this figure. Sure breakthrough of this point, dealers say, will pave the way for the return to the minimum of the previous session around $ 1.5460. Stops exist below $ 1.5450.
