European FX Midday recap

14:11CET

Recap of the items that have hit the wires for the day thus far...

    * Shanghai stock index ends down hefty 3.9%, one month low. Jitters surrounding further PBOC monetary tightening
    * S.Korea fx authorities spotted buying dollars to check won’s strength – Dealers
    * Dudley tells CNBC Fed critics don’t “understand” exit strategy
    * Ireland’s Europe Minister: No reason why Ireland should trigger EU or IMF bailout
    * Ireland’s Cowen to weigh EU steps to shore up bank system – Bloomberg
    * German EconMin Bruederle: It’s up to Ireland to take decision on EU aid, but does not think it is needed
    * ECB’s Constancio: No necessary link between Ireland taking any aid and Portugal
    * UK October CPI +0.3% m/m, +3.2% y/y, above median forecasts +0.2%, +3.1% respectively. Highest y/y rate since June.
    * BOE’s King in letter to UK govt: MPC ready to adjust policy in either direction. CPI likely to remain above target for next year.
    * German November ZEW: Economic sentiment +1.8%, much stronger than median forecast of -7.0
    * CEBS’s Carosio: Preparations for next EU banks’ stress test underway. Results due next June
    * Japan FinMin Noda: To take decisive steps on forex, including intervention when necessary

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