IMF out with a note on Europe 13 Nov

  • UK rate hike was justified by higher inflation
  • European recovery looks increasingly durable, strengthening and broadening
  • Europe's central banks should be ready to gradually to withdraw stimulus where wages have accelerated
  • IMF supportive of plan to convert ESM into an EMF but needs right governance

Make of the IMF what you wish but rarely price moving.

USDJPY trawling around 113.45, GBPUSD 1.3070 near session lows, EURUSD going nowhere in a hurry around 1.1650