US pressure gives euro short-terms gains
MARKET NEWS
Growing speculation over US dollar policy helped the euro last week, says Matthew Clements, economist at Prebon Yamane
The National Association of Manufacturers in the US has claimed the dollar is up to 30% overvalued – leading to increasing pressure on the US government to take a softer dollar policy stance. The industry has become more vociferous about dollar strength because the manufacturing sector is under increasing pressure from the domestic slowdown. Treasury secretary Paul O
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