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Too early to decide on QE expansion – ECB’s Coeure

FXStreet (Mumbai) - In an interview with CNBC, reported via Reuters, the European Central Bank’s (ECB) executive board member Benoit Coeure said that any decision on expansion of the central bank’s asset-purchase program (QE) would be considered premature.

Key Quotes:

"If anything were needed, we would need to be ready,"

"But it is too early to pass that kind of judgment."

"What we see is a steady recovery momentum in the euro area,"

"Certainly, in our judgment, in our analysis, the risks come from the outside."

EUR/USD nears 1.14, at three week high

The EUR/USD pair chewed through offers around 1.1373 to trade within a touching distance from the 1.14 handle.
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Collapse of dollar longs - SocGen

Kit Juckes, Research Analyst at Societe Generale, notes that if we add up the positions in all the currencies of the latest CFTC data that speculative traders are long of against the dollar which shows dollar longs being exited.
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