Concerns over euro remain despite rescue bid
The euro rose against the dollar on the evening of May 9 after news of a rescue agreement between the European Union (EU), the European Central Bank (ECB) and the International Monetary Fund, including EU loan guarantees, reopened swap lines from the US Federal Reserve and an agreement from the ECB to buy eurozone bonds.
From a closing price on Friday May 7 of $1.2705, the euro closed on Monday at $1.2810.
The credit markets also initially reflected a dramatic improvement in confidence regarding
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