EUR flows: EUR unmoved by Nagel comments

Bundesbank president Nagel on the wires saying he doesn’t see much need for rate cuts and sees the EUR as a non-issue, as it is sitting close to its mean. With very little easing priced in, this sort of comment from a hawk means little, and it is true that in real effective terms, the EUR is close to a long term average, despite being weak against the USD. More interest in what Powell has to say at Jackson Hole.

Real effective EUR