Nowotny, who is also the head to the Austrian central bank, suggested that Austrian deficit could exceed 3% in 2014, but should then drop below 2% the following year. He stressed however that it was not structural deficit.
EUR/USD which fell to 1.3725 following the release of Eurozone CPI data, climbed back to 1.3778 following Nowotny's comments. EUR/GBP and EUR/JPY also strengthened.
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