Just over a billion of their holdings matured.
EUR/USD is firmer after Trichet said that inflation is “durably” above the ECB’s inflation target, suggesting a series of rate hikes or a large rate hike to get the the inflation rate under control.
The market sees a 34% chance of a 50 bp hike at the ECB meeting next week and 125 bp in hikes priced in over the next 12 months.