Seems to indicate NO QE - negative interest rate on excess reserves (IOER) puts ECB in test case opposite Fed which is paying above mkt rate // increased commentary about exit strategies ECB, BoE and Fed, especially if a major CB goes to negative rates, will increase volatility in FI and affected currencies
If Fed or BoE have to hike rates or if the Taper starts to bite the EM again FX may become the lead sled dog again
GVI Forex16:35:22 GMT - 05/21/2014
5/21/2014 12:01:00 PM
(EU) ECB's Weidmann: reiterates not in favor of targeted exchange rate; no decision made yet on June meeting; still unclear the ECB needs to act in June
- Interest rates are at core of our policy instruments, thus will look first at using rates if we decide to act.
- Reiterates sees no signs of deflation .
- Source TradeTheNews.com
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