Further Weakness in Eur Is Just a Matter of Time

Further Weakness in Eur Is Just a Matter of Time


Quotes from Societe Generale Cross Asset Research:
-The papers are concentrating on Mario Draghi's riposte to the Bundesbank-led critique of the ECB's use of 'exceptional measures' to tackle the Euro-crisis. As far as Mr Draghi is concerned, this is consistent with the ECB's price stability mandate.
-Mr Draghi is desperate to ease policy further and buy bonds, would like to convince the Bundesbank of the need to do so, and we will find out what is going to happen, next week.
-The euro has consistently failed to break USD 1.2580 in the last week. Recession and more monetary accommodation isn't a recipe for a turnaround, so further weakness is just a matter of time.


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