It will be very interesting to see where Herr Weber ends up…Will he go for the big bucks at Deutsche or will he fill the formidable shoes of Monsieur Trichet?
The prospect of him moving to the private sector as enough to give EUR/USD a case of the jitters, earlier today.
Aside from Weber, the next most logical candidate is Italy’s Draghi. Nothing against Draghi, but the idea of an Italian heading the European central bank during a debt crisis is not the most comforting given Italy’s long history of fiscal and monetary mismanagement along with a well-remembered penchant for competitive devaluation.
Bernanke testifies before the House budget committee starting at 15:00 GMT. That should be the session’s highlight.
