10 May 2013
Forex Flash: Bundesbank hints at further ECB rate cuts - DBS Group
FXstreet.com (Barcelona) - DBS Group analysts note that Bundesbank President Jens Weidmann reiterated the European Central Bank’s (ECB) stance that another rate cut is possible if incoming Eurozone data remains weak.
Elsewhere, they note that the Portuguese unemployment rate has risen to another record high and like the yen, the euro had earlier started giving back gains on receding worries that the Fed may consider increasing asset purchases. They write, “EUR/USD started falling towards 1.30 after USD/JPY rose past 100. Overall,the US dollar was higher but this turned out to be negative for US equities.”
Elsewhere, they note that the Portuguese unemployment rate has risen to another record high and like the yen, the euro had earlier started giving back gains on receding worries that the Fed may consider increasing asset purchases. They write, “EUR/USD started falling towards 1.30 after USD/JPY rose past 100. Overall,the US dollar was higher but this turned out to be negative for US equities.”