EUR/USD: Sees Muted Impact on Eurozone from any US Slowdown

Trichet says the impact of any US economic slowdown would be at the margin. A 1% slowdown in US GDP would translate to a 0.2% slowdown in Europe's GDP, he says. European real estate markets do not compare to the US, he says, dismissing fears of a European real estate bubble like the one deflating in the US today. EUR/USD trades quietly at 1.2695. A strong bid is propping the market between 1.2685/90.