A few comments from Trichet hitting the Reuters wires at the moment. Once again he refrains from saying anything new, content to deliver the same old tired platitudes of “determined to anchor inflation expectations soundly”, “solid anchoring of expectations important for growth and jobs” and “have to avoid second-round inflation effects” In a veiled message to IG Metall he says that it is important to have moderation in collective bargaining. On policy he thinks that current monetary stance will help achieve price stability. Little in the way of reaction in Eur/Usd, which seems content to trade around 1.4100 as we move towards the North American session.