EURJPY Falters As ECB's Weidmann Suggests Savior Of Last Resort Won't Be There
Speaking at the EuroFinance conference, the recently chatty Jens Weidmann makes it clear that expecting the ECB to save the day is not a good idea. His comments, via Bloomberg, were enough to crack EURUSD under 1.37 and take EURJPY below Friday's lows - dragging risk assets lower across the board.
*ECB'S WEIDMANN SAYS ITALY HAS `WORRYINGLY' HIGH DEBT BURDEN
*WEIDMANN: ECB MUST NOT SOLVE SOLVENCY ISSUES OF STATES, BANKS
*WEIDMANN SAYS MARKET FORCES HAVE `IMPORTANT DISCIPLINARY' ROLE
*WEIDMANN SAYS USE OF MONETARY POLICY FOR FISCAL NEEDS MUST STOP
Italian 10Y spreads are almost back to unch after being 11bps tighter at their best.