Published at 02:11 (GMT) 16 Sep
ECB Peter Praet says ECB has room to manoeuvre to help offset any turbulence triggered by Fed tapering. As long as inflation expectations remain well anchored, ECB has room to move - Les Echos.
On FX, ECB seen assuring markets it will cut rates if needed to counter any Fed tapering effects. Focus on Sept 17-18 Fed FOMC - speculation Fed will taper. Though focus now on who will be the nominees for Fed chairman after withdrawal of Summers. EUR/USD at 1.3366-67, supported on Summers withdrawal. Offers 1.3380-00, bids at 1.3300-20. EUR/SGD spiked up to 2-week highs of 1.6960-70, vs 1.6870-80 Friday close, on EUR spike. Before dipping back to 1.6875-80, as USD/SGD dipped through 1.2600 to 1-month lows of 1.2595, low since Aug 12 1.2555. Before trading back up at 1.2622-26, vs Friday 1.2694. WL
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