As Asian constantly lectures the US, Bernanke is doing a bit of turnabout at a San Francisco Fed conference. He says that Asian is too reliant on external demand. They must raise domestic demand and pursue structural reforms.
Bernanke warns his own government that the US must male clear commitment to reduce federal deficits overtime. Not much news here…
Cable has pulled back below the 1.6400 level after a rally to 1.6409. It trades now at 1.6388. EUR/USD trades at 1.4944.
