More from Coeure: High degree of ECB policy accommodation still needed

ECB executive board member Coeure now talking to CNBC 6 April

• ECB rate guidance will gain in importance
• will see change in the mix of policy instruments
• market can look through market impact of trade spat
• ECB has seen some uptick in recent inflation numbers

Really?  Still a long way to go.

• European govts should have used low rates better
• disappointed with some reforms in EU
• wage pressure slow to translate into prices
• Brexit is a concern, deal must maintain EU’s integrity

Integrity?  

EURUSD still nudging higher at 1.2244 after a steady climb from 1.2220 as general USD supply prevails. GBPUSD up to 1.4014 and USDJPY down to 107.35 after another failure into 107.50.

GBPUSD has sell interest/offers 1.4020-30. EURUSD 1.2250 then 1.2260 and 1.2280