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Weidmann says that ECB should not see QE as a silver bullet

FXStreet (London) - European Central Bank council member Jen Weidman put a stick in the spokes of ECB sovereign debt buying aspirations.

Speaking in Madrid, the Bunesbank president said that there were “high legal hurdles” to full blown ECB quantitative easing. Weidmann said that “there seems to be a conception that there is one silver bullet out there which is buying sovereign debt.” However he said that the focus should instead be on generating economic growth in the Eurozone area.

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The single currency extends its upside momentum on Monday, lifting EUR/USD to session highs around 1.2430...
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US Ten-year treasury yield continues to trade sideways

The US Ten-year treasury yield continues to trade in a three-week long trading range of 2.38% to 2.30%. For the day, the yields have eased slightly from the day’s high after weaker-than-expected US data hit the wires.
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