Another false euro-dawn
MARKET NEWS
FRANKFURT -- The euro strengthened to its highest level since January last week, but analysts remained sceptical about the long-term prospects for the currency’s latest rally.
The unit peaked at just above $0.8921 on the morning of Friday April 19 -- its highest level since January 14 -- on the back of general US dollar weakness. But the rally is likely to be short lived.
"This move is not enough to swing the momentum in the euro’s favour," said Jane Foley, currency strategist at Barclays Capital
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