ECB's Asmussen: Tentative EU recovery requires support

FXstreet.com (Barcelona) - ECB Executive Board member Jörg Asmussen, who took part in the Danske Bank Financial Forum on Tuesday, said that the economic recovery in the Eurozone is still at a nascent stage and that it should be supported as much as possible.

The improvements in the Eurozone economic activity are slowly proceeding, but the recovery is weak and uneven, the ECB policymaker said. European banks still face difficult funding conditions.

GBP/USD looking for a close in the 1.6000’s

GBP/USD has had a bounce from 1.5860/90 support and is up 0.41% at 1.6041.
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EUR/JPY under pressure on ECB’s Asmusen quotes, dismal EZ PMI data

The EUR/JPY has lost solid ground the last hour –roughly 20 pips – as market participants have priced in that after today’s dismal EZ PMI data ECB is under pressure to at least signal a loosening monetary policy on Thursday.
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