USD Dropped due to ECB Trichets speech

The dollar is dropping following comments by ECB President Jean-Claude Trichet that euro-zone monetary policy "continues to be accommodative," and that there continue to be upside risks to price stability over the long-term.
Investors had been awaiting Trichet's comments, which are still ongoing, to begin selling dollars as the ECB's decision to hike its benchmark rate 25 bps to 3.00%, was widely expected.

At the NY Morning, the euro was at $1.2828 from $1.2787 before the press conference and $1.2803 late Wednesday.

The dollar was at Y114.72 from Y114.88 pre-conference and Y114.56 late Wednesday, while the euro was at Y147.15 from Y146.90 pre-conference and Y146.64 late Wednesday.