Euro Slips As Bears Close In
NEWS
The euro is looking increasingly vulnerable to the downside and last week brought fresh woes for the currency. Matthew Clements, economist at Prebon Yamane in London, explains
The euro last week fell below $0.88 for the first time since December, following market disappointment at the ECB's failure to cut interest rates on Thursday.
The ECB's stubborn reluctance to cut interest rates appears to be based on political, rather than economic reasoning. The Bank is notably determined to preserve its
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