ECB President Trichet is speaking at the ECB ‘s results for 2008 and sounds quite downbeat saying that he sees uncertainty about the economic outlook and ongoing weakness in activity before move onto his usual plea for more structural reforms. Interestingly the share of ECB reserves in Dollars fell to 77.5% in 2008 from 79.7% in 2007.
Eur/Usd continues to trade very quietly at 1.2960 as shares give up a few of their gains.
