Euro intervention threat remains
MARKET NEWS
Threat of intervention to support ‘stable’ euro remains a possibility, says Prebon Yamane’s Matthew Clements
A weaker pound and yen prevented a decline in the European Central Bank’s effective exchange rate (EER) last week. Furthermore, the euro remained relatively stable against the dollar, preventing a sustained drop below $0.8450. Economic data releases from the US once again raised the prospect of a sharper slowdown in the US economy for the remainder of 2001 -- something that would be
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