German econ min out on the wires 7 Feb

  • we will not give up on our principles of free trade and open markets

No prizes for where/who that comment's aimed.

Meanwhile the German BGA trade association has said:

  • Trump's first actions on protectionism are alarming
  • stakes are high for Germany
  • now a big question mark over a 2017 export growth f/cast of 2.5% due to long list of risks inc Trump, Brexit, EZ debt crisis.

The concerns are widely shared and not going away anytime soon.

EURUSD 1.0658 with EURGBP failing above 0.8630 again