Euro rises on German growth data

  The official talk around the G7 statement and the G20 meeting generated a great deal of needless noise in the foreign exchange room. It is almost like a librarian yelling "Quiet".   It may be more disruptive than the initial noise.   With the meetings out of the way, we expect the official jawboning about the currency market to die down.  Of course, there is a chronic low level murmur of economic commentary that may have broad implications for foreign exchange rates.    

By Dr. Duru: I have followed the Bank of England's quarterly Inflation Report since November, 2009 as a way to gain insight into the UK economy and the prospects for the British pound (FXB).

  The US dollar rose to new multi-month highs against several of the major currencies, including the euro, Swiss franc, British pound and the Japanese yen.  The BOJ, BOE and ECB meet last week and none changed policy.  The Swiss National Bank meets on March 14 and is also unlikely to change policy.  The Federal Reserve meets the following week and is widely expected to stay its course.  It is not monetary policy then providing the new trading incentives. 

By FXstreet:The dollar trades mixed versus major competitors, but within its recent ranges, with the main exception of the pound, as the British currency weakened to fresh multi-month lows amid speculations and rumors S&P could downgrade the UK's "AAA" rating.