Euro Holds Above 1.45

By JESSICA MEAD LONDON—The euro and other risk-sensitive <a href="http://www.cheapsuprashoesonline.com/men-supra-skytop-fashion-shoes-light-blue-and-black-with-rivets-p-322.html"><strong>men supra skytop fashion shoes light blue and black with rivets</strong></a> currencies such as the Australian dollar remained supported Monday after Federal Reserve chairman Ben Bernanke's speech boosted overall market sentiment, despite the fact he didn't announce any imminent monetary stimulus for the U.S. economy. However, with London—the world's largest foreign-exchange hub—out for a national holiday, activity was subdued. The euro was trading recently at 1.4511, compared with 1.4499 late Friday in New York. The dollar was at ¥76.61 against the yen, compared with ¥76.64, while the euro was at ¥111.15 from ¥111.13. Meanwhile, the pound was trading at 1.6384 from 1.6371. In a otherwise dull trading session, the euro held steady above the 1.45 level against the dollar despite comments by International Monetary Fund Managing Director Christine Lagarde, who warned that some European banks need to be recapitalized. The single currency continues to ignore ongoing uncertainty surrounding the second bailout for troubled Greece, as market participants instead remain fixated on developments in the U.S. "The currency's strength suggests that once again markets are ignoring systemic risk and focusing on prospects of further quantitative easing measures <a href="http://www.thomassabocheap.com/thomas-sabo-pendantgreen-decorative-egg-charm-p-166.html"><strong>Thomas Sabo Pendant-green decorative egg charm</strong></a> from the Federal Reserve and trading on the basis of risk-appetite correlations," said Ilan Solot, a currency strategist at Brown Brothers Harriman in London. Elsewhere, the Swiss franc fell to its weakest level against both the euro and the dollar in more than a month as the more positive tone encouraged traders to pull out of the safe-haven currency. The euro climbed to as high as 1.1865 francs while the greenback traded up at 0.8161 franc. But the other traditional safe-haven currency, the yen, traded sideways against the dollar at around ¥76.65 despite further steps announced by the Japanese government to help exporters and small firms that are suffering from the super-strong yen. The yen <a href="http://www.thomassabocheap.com/thomas-sabo-pink-crystal-bracelet-tsbl080-p-864.html"><strong>Thomas Sabo Pink Crystal Bracelet TSBL080</strong></a> also wasn't affected by Finance Minister Yoshihiko Noda's success in the ruling Democratic Party of Japan's leadership contest. Looking ahead, data-wise U.S. personal income and spending are due for release at 8:30 a.m. ET and pending home sales are at 10 a.m. In addition, the European Central Bank's president Jean-Claude Trichet takes questions from the European Parliament's economic committee in the first of a two-part hearing on key issues facing the euro zone.