They say that the euro meets Offer at 1.3758, the maximum level reached late last month. Presumably, the sell orders were exhibited by some Asian central banks, it would be surprising if such a sharp rise in the euro, which was in January, after which the levels were not so great for shopping. Another factor worth mentioning is exceeding expectations a report on the labor market in Germany, where unemployment fell to 7.4%, despite the fact that before the financial crisis was 7,6%. Employment is now at a percentage higher peak in 2008, which was due to a combination of export-oriented model of growth and structural measures designed to minimize the loss of jobs in cyclical downturns (such as shorter hours). By contrast, employment at 14% below the peak in Ireland, 4.6% in Portugal and 3.6% in Greece. More than ever for all time of its existence, the ECB faces a divided Europe in the labor market, inflation and balance sheets. Monetary policy looks very blunt instrument for such a moment.
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