ECB’s head honcho Trichet says excess forex moves have adverse implications. It’s only a headline at the moment, so it’s not clear whether he feels recent euro strength is an excess move. I’d be surprised if he’d directly come out and say something like that at current levels, more likely to get a gentle hint here and there.
Suffice it to say, seems fairly clear (to me anyways) that euro zone officialdom really doesn’t want to see accelerated euro strength from current levels.
EUR/USD is drifiting very slowly lower, presently at 1.4560.
