Euro jumps after ECB Trichet's "strong vigilance" comments

LONDON Tue Jun 28, 2011 8:08am EDT

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LONDON Jun 28 (Reuters) - The euro jumped from near session lows against the U.S. dollar on Tuesday after European Central Bank President Jean-Cluade Trichet reiterated that policymakers were in strong vigilance mode when tackling inflation. [nWEB7483].

The euro EUR= rose to $1.4283 from around $1.4240 before his comments, which backed expectations that the ECB will raise interest rates by 25 basis points next month, despite ongoing Greek debt problems.

The common currency has been under pressure with investors nervous about whether Greece's parliament will approve tough austerity steps needed to stave off a default.

(Reporting by Anirban Nag)

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