News Headline Summary

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

Update details:

- 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.

Reaction details:

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

Print 12:47, 13 Feb 2013 - ECB - Source: Bild