Europe has been quiet aggressive in dealing with its debt issues, the Fed chair says. He also says he some of his Fed colleagues are headed to Europe this weekend.
On deficits, he says Congress has about two years to get a plan together to deal with the deficit in the long-term. He argues against cutting fiscal stimulus too precipitously.
EUR/USD has slipped as low as 1.2732. Cable has triggered stops below 1.5250 and fallen as low as 1.5126.
