Trichet: Will ensure extraordinary measures will be phased out to preserve inflation expectations

Trichet is going into greater depth on exit strategy than usual, saying they will be phased out as necessary, preserving price stability.

EUR/USD has rebounded to fresh highs at 1.4917 as shorts are covered. Risk is underpinned by the steady policy from both the Fed and ECB as well as a shot of QE from the BOE. All that money has to go somewhere and stocks, commodities and higher-yielding currencies are the destinations of choice.The exit strategy talk is giving the euro a boost in and of itself.