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BUZZ- ECB's Coeure weighing on EUR

Rey Nuevo

By Rey Nuevo
in Technical Analysis

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Rey Nuevo Newbie

Rey Nuevo

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*EUR/USD pegged to the lows as ECB's Coeure pours a bit of gas on the fire.

*Coeure says ECB will buy bonds on the secondary mkt if it need to for monetary.

*policy and will not do so otherwise; ECB lending to ESM to buy Govt bonds in.

*unlimited manner wouldn't comply with EU treaty.

*Mkt sees no bounce for EUR/USD; Through 1.2260 targets July '10 low (1.2190).

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