Harsh criticism from ECB's Rehn
ECB's Rehn (and Finnish central bank governor) has some harsh criticism of the German top court saying:
- top court is trying to interfere with the independence of the European Central Bank
Comments are in reaction to the ruling that a crisis fighting stimulus program by the ECB is potentially unconstitutional.
Rehn says that the ruling could have a far-reaching impact on the ECB's ability to deliver on its price stability mandate.
The EURUSD is wandering lower on the day in a up and down choppy price action. The price is trying to move away from its 100 hour MA at 1.08237 and stay below a swing area at 1.0808-15 area. The high price in the NY session could not extend to the Asian session high at 1.08498. The NY high reached 1.08433.
