Wednesday Currency News, ECB to Lower the rate?

Investors take hammer to Teflon euro The prospect of an ECB interest rate cut has had a dramatic effect on the currency, which has tumbled out the range that kept it stable Rally helps euro pare losses The euro stabilises as equity markets come under further pressure, while Italian bond yields climb following a debt auction Biggest test of central bank credibility is to come Low inflation in the developed world is essential to permit a convergence of living standards Asian rally quickly stalls on eurozone fears South Korea's Kospi leads fallers with a drop of more than 2% 'Brics' to debate possible eurozone aid The idea will be discussed at a meeting of finance ministers and central bank governors of the four nations plus South Africa on Thursday