Talk in recent days has been of a currency pact along the lines of the Louvre or Plaza accords of the 1980s which were meant to stabilize currency markets.
Trichet offered no comment on that idea revolving around the IMF meetings beginning today. He said if there was a move afoot, he would not tell us, though he appeared to downplay the idea with his body language.
EUR/USD is retracing some of its earlier gains, now at 1.3993 from 1.4030 highs.