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ECB’s Nouy: There is a good chance that banking sector will indeed shrink

Daniele Nouy, the Chair of the Supervisory Board at the European Central Bank (ECB), crossed the wires last minutes, talking on the bloc’s banking sector.

Main Points:

There are too many banks competing for customers

There is a good chance that the banking sector will indeed shrink

We support the EC’s proposal to grant capital waivers within banking groups on an EU cross-border basis

EUR/USD now eyes a test of 1.1660 – UOB

The pair’s decline could head towards the 1.1660 area in the next weeks, argued FX Strategists at UOB Group. Key Quotes 24-hour view: “The weakness
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USD/JPY points to further consolidation near term – Commerzbank

In light of the recent price action, USD/JPY is expected to extend the sideline theme for the time being, suggested Karen Jones, Head of FICC Technica
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