More G20 comments from German min Schaeuble and Buba’s Weidmann
Schaeb’s
- Germany ready for EU treaty changes to create banking union asap
- G20 largely agreed Japan’s expansive policy should be accompanied by structural reforms and not be permanent
Weidmann
- European treaty changes still necessary to create banking supervision
- Japan mon pol should not be used to manipulate exchange rates and spark competitive devaluations
- G20 took closer look at mid-long term risks of ultra expansive mon pol
- G20 did not put so much stress this time, on encouraging more expansive growth policy in Germany
- Interest rates in Europe are appropriate given current conditions but if data shows change, need to check again
Another comment induced run up in EUR/USD to highs of 1.3129. I still can’t find a definitive time for when this poxy meeting ends so we’re restricted to tape bombs. Keep your eyes peeled and stay on your toes as it’s getting choppy out there