IFO head Clemens Fuest press conference 24 Nov

  • influence on German economy limited
  • both a grand coalition or minority govt could work

Lest we forget that coalition talks are still underway.

IFO economist Wohlrabe:

  • German economy robust
  • broadly unaffected by political events at home or abroad
  • ECB decision to reduce bond purchases appears not to have affected German business morale

Meanwhile EURUSD back to 1.1863 with 1.1880 proving a step too far for the moment. GBPUSD down to 1.3318 though as EURGBP retains a bid.