Forex Euro Stabilized Gains

Tokyo, Japan: After more than 2 months of constant rebound, the Euro trades stabilized but retained its gains on Friday.

Yesterday the EUR/USD currency pair advanced through 1.3200 from 1.3085. Despite the press conference from ECB’s president Trichet which disappointed the forex market for not committing to speed-up the pace of its bond buying program, the single currency was able to rebound off 1.3059 lows on Thursday.
However the GBP/USD cross has been performed poor, falling behind the purged US Dollars. According to Nirmal Keelery a forex trader involved in forex morning trade, as the foreign exchange market moved into its close GBP/USD was still slightly struggling but stable near 1.5600 from lows of 1.5512.