While the ECB never pre-supposes, Trichet says the ECB is looking at ways to enhance credit support.
All indications are they will adopt some form of quantitative ease next month (but all indications were they would cut 50 bp today…).
EUR/USD has dipped from session highs near 1.3490 on Trichet’s pre-announcement of next month’s debate on non-standard measures.
Exchange rate measures are not part of what is being discussed (shooting down talk yesterday that the ECB would follow on the heels of the SNB and weaken the EUR).
