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Economic recovery in Europe is on track – Germany’s Spahn

FXStreet (Mumbai) - Germany’s deputy finance minister Spahn, while speaking to Bloomberg, assured markets that he economic recovery in Europe is on track and there is no room for rest on reform.

Key Quotes

“EU still faces structural barriers to growth. Europe needs to continue its reform strategy. Loosening deficit cuts wouldn't help euro member states. More debt is part of the problem, not the solution.”

“Sharing risks means sharing sovereignty. Common euro deposit insurance is inconceivable right now Common. EU rules must be mutually respected and enforced.”

GBP: BoE wrestling with timing of lift-off – BBH

Research Team at BBH, note that Bank of England is also wrestling with the timing of its own lift-off just like the US Fed. The same logic that says the Fed may have missed its best opportunity to hike when it stood pat in June suggests the BOE missed its best opportunity as well.
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USD/CAD shoots higher, 1.3380 eyed

The greenback is now picking up further pace vs. its Canadian counterpart on Monday, sending USD/CAD to daily tops near 1.3380...
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