Bundesbank president Weber is on the wires, keeping his focus on the withdrawal of extraordinary monetary policy accommodation as inflation risks could revive rapidly, he warns.
He does see some grounds for optimism that the pace of economic contraction is slowing but he is not optimistic that the a recovery is on track. Unemployment will rise even if the worst of the growth shock in Germany is over, he says.
EUR/USD probed support in the 1.3565 area once again but buying from a US investment bank helped hold the line. EUR/USD trades now at 1.3580.
