Austrian central banker Nowotny is being interviewed by Reuters and declares the efforts to stabilize the markets a success.
He says the government bond buying has stabilized markets and says it will continue. Sterilizing those purchases will give the ECB more ammunition. The ECB has not lost credibility it says but has shown that it can move quickly…
Oookaaay…
EUR/USD continues to consolidate losses after buying from the Middle East and others near the 1.2670 level. We trade now at 1.2685.
