Euro remains strong after interest rate decision

<p>The euro has remained strong after the ECB chose to keep interest rates on hold.</p>

The euro has continued to climb in forex markets today (January 11th) after the European Central Bank (ECB) opted to leave the region's 0.75 per cent interest rates unchanged.

This did not come as a surprise to economists and investors when the announcement was made yesterday, as economic weakness in the eurozone is anticipated to extend well into this year.

"Necessary balance sheet adjustments in financial and non-financial sectors and persistent uncertainty will continue to weigh on economic activity. Later in 2013, economic activity should gradually recover," stated ECB president Mario Draghi.

This news follows figures released earlier in the week showing unemployment in the region has risen to a record high of 11.8 per cent, with both Spain and Greece grappling with more than 26 per cent joblessness.

At 10:35 GMT, the euro rose by 0.3 per cent in trading with the pound to €1 buying £0.823.

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