Prospective EU economic czar Rehn, Almunia’s expected replacement, says that economic and financial stimulus packages are still necessary.
Europe needs a single external representative regarding economic issues, the Finn said in his confirmation hearing. Only after the economy is on a stable footing can exit strategies start, he said.
The greenback is weakening across the board as the 16:00 GMT fixing approaches. EUR/USD trades at 1.4537, USD/JPY at 91.90.
