EUR/USD continues to consolidate losses, trading as low as 1.3002 so far, on dovish comments from Austria’s Nowotny. Austria is generally among the more hawkish ECB members.
Despite Nowotny saying rates will stay low for some time and that quantitative easing methods will be discussed, he downplayed the risk of deflation as have most ECB members.
EUR/USD trades at 1.3010, weighed down by swine flu fears, predominantly.
