ECB out on the wires to give markets prior notice

  • will temporarily pause Asset Purchase Programme purchases in anticipation of lower market liquidity during this period
  • looking to reduce possible market distortions
  • purchases will resume on 4 Jan
  • purchases during the period 27 Nov - 21 Dec will be somewhat frontloaded to take advantage of better market conditions expected during the early part of the month

We know about the frontloading so it's a public service announcement re Xmas/NY plans

EURUSD unfazed at 1.0682 near session highs as is EURGBP at 0.7076 which is capping cable above 1.5100