Faltering euro expected to bounce back

- By FX Markets Staff
- @FXMarkets_
- 12 Aug 2002

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LONDON -- The euro slipped below $0.97 against the US dollar last week, despite renewed accounting woes at WorldCom, but market participants still believe the single currency will bounce back.

US funds have been scrambling to offload foreign assets, particularly Japanese equities, in a bid to repair losses made in domestic asset markets following the dismal performance of US equities recently. This, dealers said, has created increased demand for dollars.

"US funds have been cutting their losses on

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