Minneapolis Fed President Stern, a relative hawk, says that “at some point” the it is important to move toward a balanced Federal budget. There must be a enough confidence in the US economy to allow its debts to be rolled over.
Scary to think that the US government needs to take rollover risk into account. That’s usually third-world stuff…
Some EUR/GBP sales are the primary price drivers at the moment as EUR/USD edges down to 1.4030 while GBP/USD trades around 1.6350. No extention of guantitative ease a slower pace of buying of gilts over the next few weeks by the BOE are helping support the pound as less money is “printed” in the process…
