The Spanish treasury secretary feels the present level of EUR/USD is not worrying. He feels there’s no need to overdo concerns about fx levels as they are still at normal levels.
Elsewhere, German BGA exporters’ group sees EUR/USD hitting 1.60 before settling between 1.45 and 1.55.
BGA President Anton Boerner told a news conference that the USD weakness was creating “certain problems” and that auto firms, makers of machinery and equipment and the chemicals secotr were being hit harder than most. Overall though, Mr Boerner said trading activity would continue to pick up despite a monthly fall in exports in August.
