News Headline Summary

ECB worried EUR strength will hurt recovery in crisis states according to a Bild report

Reaction details (13:48)

- In immediate reaction to this headline EUR/USD fell 32 pips in a move from 1.3513 to 1.3480.

Analysis details (13:55)

- Until recently the ECB rarely commented on exchange rates and therefore this comment from the ECB, which hints that Euro is too strong, has caused weakness in the EUR currency.
- A statement from the G7 on Tuesday reaffirmed commitment to market determined exchange rates and said they will not target exchange rates.

13 Feb 2013 - 13:47 - Fixed Income Geopolitical - Source: Bild

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: