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      No need to act in the short term – ECB’s Nowotny

      FXStreet (Mumbai) - The European Central Bank (ECB) member Edwald Nowotny, while speaking to Bloomberg today, played down the urge to do expand the ECB’s QE program by stating that there is no need to act in the short term.

      Key Quotes On QE

      Prolongation of QE may have a signalling effect. There is room to buy more of the same under QE. ECB could expand into other assets. Any QE expansion will need more thorough examination.

      On Inflation

      Core inflation rates have been rather stable. The ECB is clearly below its 2% inflation goal. Low oil price means incomes have improved.

      USD/CHF off highs, back to 0.9770

      The greenback is now giving away part of its initial gains vs. the Swiss franc on Wednesday, driving USD/CHF to the 0.9770 after hitting tops near 0.9790...
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      AUD/USD could test 0.70 – OCBC

      Emmanuel Ng, FX Strategist at OCBC Bank, sees the possibility that the pair could test the key 0.70 handle...
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