4 March 2004, 16:59  Euro climbs above $1.2180 after Trichet speech

The euro climbed against the dollar on Thursday after European Central Bank President Jean-Claude Trichet cited favorable growth prospects for the euro zone in the second half of 2004. The euro rose as high as $1.2189 after Trichet's speech. Trichet made his comments in a press briefing after the ECB kept rates steady on Thursday. Greg Anderson, senior foreign exchange strategist with ABN Amro in Chicago, said Trichet "was not so dovish... and he made the comment that they expect to see Europe's exports rebound in 2004 and 2005 and implicitly that is saying that a strong euro is not a problem."///

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