More from Merkel
Angela Merkel has been speaking at a family enterprise conference in Berlin where she made her remarks on the euro. It was far from a direct attack on the currency but twinned with Dijsselbloems's comments has been enough to help kick the euro lower. Here's a round up of all the comments
- Calls for understanding that central banks have to think about what to do when inflation is low
- Respects ECB's independence
- Strong euro makes reforms in Spain and Ireland harder
- Says on Greece, where there's a will there's a way
- Will is required on all sides to solve Greece
Germany's Gabriel was also out on Greece saying that an exit would be a catastrophe and hopes that common sense prevails
The comments from Merkel on the euro aren't close to the scale of Kuroda so the market has overreacted. As I said though, it was another straw on this particular camels back and with the Deej was enough for traders to hit the sell button
EURUSD is stabilising now around 1.1170, for now