Euro Benefits From Dollar Weakness
MARKET NEWS
The euro failed to make significant gains last week, but held to the $0.88 level as European majors benefited from a weaker dollar, writes Matthew Clements, economist at Prebon Yamane in London.
The euro held its ground despite another batch of disappointing economic data from the eurozone, and the European Central Bank’s (ECB) failure to cut interest rates at last Thursday’s governing council meeting.
ECB moves remain generally less "signalled" than those of the Federal Reserve or Bank of
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