EUR/USD has fallen below the 1.2400 level, testing support at 1.2388 level.
Comments from Weber that while unconventional monetary policy has been a success but that inflation risks must be taken into account are helping weigh on the euro as are his call for heavy austerity among the indebted which will weigh on growth, as highlighted by the IMF.
The globe has a difficult task ahead, trying to cut budgets without throwing the world into a deflationary spiral.
