Euro up as investor morale rises

The euro hit a four-month high against the dollar yesterday, on the back of growing speculation that the European Central Bank will raise interest rates next month. “There is amongst central bankers a solid unity of purpose to continue to anchor solid inflation expectations,” ECB president Jean-Claude Trichet yesterday told an economic meeting in Basel, Switzerland. The Eurozone Sentix index of investor confidence also pushed the euro higher, rising to 17.1, from 16.7 in February, its highest rate in over three years.