Looks like all in sundry in the European economic and monetary community are on the exact same page in terms of the eurogroup coming to the aid of its own if necessary. That is one macro factor that has been supporting the euro in recent days as the idea of Ireland, Greece or another cash-strapped economy going to the IMF hat in hand is taken off the table,
Weber sends notice to the market that the ECB cannot play the role of central counterpart for the market forever. He looks to be trying to jump-start interbank lending. The Fed has seen its balance sheet shrink in recent weeks as the money markets have started to function more normally in the US.
EUR/USD trades firmly at 1.3010.
