ECB gov council member out on the wires 11 April

  • doesn't see big output gap
  • ECB needs to monitor potential side effects of policy

Someone else from the ECB seeing different data releases to most of us.

  • ECB needs to be more patient in achieving goal
  • ECB has less and less policy space but not exhausted

They might not be but I certainly am by all this continual hot-air!

EURUSD 1.2383 still underpinned but EURCHF and EURJPY near session lows as risk sentiment turns negative.