ECB may intervene again - still upward price risks

The European Central Bank is ready to intervene again in foreign exchange markets if it deems it to be necessary, Bundesbank president and ECB governing council member Ernst Welteke said Tueday. "The ECB will again use the instrument of foreign exchange intervention if it is necessary," Welteke told reporters after a speech.

Welteke also repeated that previous ECB interventions "were a success as they sent a signal to the markets." In this context, Welteke stressed that speculation on possible

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