Some days ago, Lorenzo Bini Smaghi, European Central Bank Governing Council member (ECB), said that "exchange rates are likely to exceed". He added that "public intervention as statements or direct intervention in the currency market, then it could be justified." This opens the door for the European Central Bank to intervene in the forex market-which it does not since 2000 -. The foreign exchange market almost immediately acknowledged. The possible maneuver aimed at curbing rising euro and thus help to promote exports of the block, turned red with the European currency against other major currencies. (more...)