Major overnight headlines:
• ECB’s Draghi says UK needs a “more British” Europe, Europe needs a more “European UK”, Reuters reports
• Germany’s IFO Business Climate Index rises to 105.7 in May versus expectations of an unchanged reading
• German GDP confirmed at +0.1% in Q1, in-line with the advance estimate
• Spanish producer prices fall 0.5% y/y in April, weakest growth rate since late 2009
• BoE’s Fisher says BoE policy makers must “keep up support” for economy, Bloomberg reports
• Japan’s Amari says Abenomics “proceeding smoothly”, Reuters reports
• BoJ’s Kuroda vows to calm JGBs, and guide the economy to recovery, Reuters reports
• Fed’s Bullard says wants evidence of inflation returning to target before QE tapering begins, Reuters reports
• North of Italy is on the “brink of the abyss” due to lack of liquidity, Euro Intelligence citing Confindustria
Click here to read the full report: FX Daily
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