No one can look at US budget figures and not be concerned, says the Chairwoman of the White House Council of Economic Advisers. Deficits must be addressed but it would be foolish to do so by tightening fiscal policy immediately. No one is predicting a strong enough rebound to quickly fill the employment gap, she says in remarks to the NABE conference in Virginia.
EUR/USD is extending losses, eying the 1.3530 lows from Friday. Small sell stops are eyed on a break of that level.
