EUR/USD: Trichet Says will Do What's Needed for 2007 Price Stab

ECB Chief Trichet says that the bank will do what is necessary for price stability in 2007, somewhat refuting early talk of a pause in the tightening cycle following a December hike. He also reiterates he will not try and alter the market's expectation of a December hike. EUR/USD trades steadily in the mid-1.2540s.