Here it is, just got out of the oven, nothing happened.
Greek Finance Minister [ALOGOSKOUFIS] is making more detailed comments on FX than his colleagues (16.18GMT), commenting that a pre-determined response to monetary policy cannot be expected when asked about the Jpy's post-BoJ rate hike fall. On the Eur, he says markets should determine currency rates and that, monetary policy apart, there is very little Europe can do to affect exchange rates. He adds that "of course" we do not like the volatility of exchange rates. He commends the ECB for doing a good job and says he strongly believes in CB independence. Note that the "pain level" for Europe's politicians was said to have been raised to around the 1.55 mark in Eur/Usd towards the end of last year, though the pre-G7 chatter suggests Eur/Jpy is another matter.
I do "of course" love volatility of the exchange rates
[well thats giving me the blues musicman I guess i'll just have to grab a beer and breakout my hohner marine band and play some blues
Nobody knows where the market is going to to go or why its not trending. For all those that traded today your crazy! Sure way to loose money. We can all predict where the market might be going but we dont know for sure. Just go with the flow and if its not making good moves stay out!
