Let’s but Boston Fed president Rosengren firmly in the QE camp. He wants the to “vigorously and creatively” use its policy options to combat the slow recovery. Current US economic conditions constitute a serious problem, he says. The recovery is too slow to reduce the unemployment rate and inflation is undesirably low, he says. The Fed has options.

EUR/USD is trading near session highs around 1.3645, just below a 1.3650 barrier.