Interbank sources say that only a few of the stops in the 1.3335/45 region were tripped this morning before Nowotny helped push EUR/USD quickly back to the 1.3280s. The Austrian central banker said that taking official ECB rates is “open to discussion”. Given that he is from the hawkish Germanic branch of the ECB, the market took these comments seriously.
EUR/USD trades at 1.3285, supported by upbeat earnings from Wells Fargo, one of the big US banks.
