ECB holds fire despite inflation fears
However, the tough stance on inflation taken by Jean-Claude Trichet, ECB president, on his succeeding press convention sent markets into a frenzy of leisure interest. The euro jumped to a fresh four-month area of high pressure critical of the buck, up 0.7 for each cent to $1.3962. The German government join markets sold sour sharply, carriage yields leaping top. The yield on the two-year link, the Schatz, jumped 18 basis points to 1.