Bundesbank president Axel Weber warns that there is too much economic optimism at the moment. Stimulus has reached its limits both on the fiscal and monetary policy, he says. Bank margins will be squeezed by capital building, he says.
I fell better already…
EUR/USD trades at 1.4880 in choppy trade. During the NY session we’ve traded 1.4844/1.4900. Markets are retrenching today with a “sell the news” reaction seen after Goldman’s solid earnings.