The Economy continues to require some form of monetary accommodation, he says. As the expansion matures, the Fed will tighten monetary policy to prevent inflation pressures. Reverse reports, term deposit will drain reserves, he says.
EUR/USD continues to trade with a soft tone as we await word from Brussels on the hope of any package fro Greece. We’re dipping below 1.3320 as we write.
UPDATE: Germany says no meeting of the euro group has been arranged for tonite…
