Premature to start discussing end of QE – ECB’s Coeure

FXStreet (Mumbai) - The European Central Bank (ECB) governing council member Benoit Coeure was on the wires via an article in Le Monde stating that it would be premature to start discussing end of QE.

On Greece

Coeure said restructuring Greek debt is no longer the question, but rather how to do it. He added further that Eurozone states are prepared for unprecedented financial solidarity towards Greece, but not at any cost. He expressed hope that risk of Grexit is now averted and the country shall have carry out reforms.

EUR/JPY: Rally capped at 136.99

The shared currency extends its upbeat momentum versus its Japanese counterpart in the European morning, pushing EUR/JPY towards 137 handle, largely after the euro was caught by fresh bid wave on the release of impressive German Ifo survey.
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DAX drops 1% on rising euro, shrugs off Ifo

Germany’s benchmark index, the DAX opened the week on a bearish tone with a negative gap of 55 points, tracking US and Asian indices lower. The index ignored upbeat German Ifo figures and keeps heavy losses as Chinese equities sell-off spooked markets, adding to the negative sentiments.
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