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ECB’s de Guindos: European fiscal response to crisis needed

Following the ECB’s multibillion dollars worth of Quantitative Easing (QE) measures, the European Central Bank (ECB) Vice President Luis de Guindos spoke to a Spanish TV while flashing signs of further actions from the central bank and government.

Key quotes

ECB can do even more.

European fiscal response to crisis needed.

ECB can always do more.

ECB will prevent economic crisis becoming financial.

will not allow any fragmentation in debt markets.

FX implications

Having witnessed a day full of volatility the previous day, global markets are catching a breath by the press time of early Asian session on Friday. As a result, the news failed to have any major impact on the trading sentiment. However, it adds strength to the US dollar recovery by the time of writing.

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