Accelerating euro decline to continue
MARKET NEWS
The euro continued to sag last week, and indicators suggest the situation will worsen, says Matthew Clements, economist at Prebon Yamane in London
The decline of the euro accelerated last week as the possibility of central bank intervention to support it receded, triggering a sustained break below $0.85. Furthermore, US and eurozone fundamentals continued to move against it, with emerging evidence of still weaker activity in the core eurozone countries, and a more positive outlook for the dollar
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