The bank lowered its global economic growth forecast for 2014 to 2.8% from the 3.2% it estimated earlier.
In a speech titled "Next steps for European securitisation markets", Mersch told that the proposal to revive EU ABS markets is to find a more holistic approach to their regulatory treatment. "There is a growing consensus that an instrument once seen as part of the problem could in fact be part of the solution," he added.
The euro reversed from an early high of 1.3546 against the greenback, hovering around early 6-day low of 1.3521. The next possible downside target for the euro lies around the 1.34 zone.
Reversing from an early high of 138.65 against the yen, the euro slipped to a 2-week low of 138.05. If the euro extends slide, it may find support around the 137.00 mark.
The single currency dropped to 0.8053 against the pound for the first time since
The ILO unemployment rate came in at 6.6%, down from expectations for 6.7%. The claimant count fell to 3.2% in May, in line with forecast, from 3.3% in April.
The 18-nation currency declined to a near 4-week low of 1.5784 against the kiwi and a near 7-month low of 1.4394 against the aussie, off its previous highs of 1.5892 and 1.4457,respectively. On the downside, the euro may find support around 1.57 against the kiwi and 1.43 against the aussie.
The euro that reversed from an early high of 1.4773 versus the loonie eased back to 1.4743. The euro is thus heading to breach its early Asian session's 2-week low of 1.4731.
Meanwhile, the euro held steady against the franc with pair trading at 1.2183, after advancing to 1.2187 during early European deals.
Looking ahead, the US monthly budget statement is to be released at
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