US worries give euro a boost

MARKET NEWS

Dire news on the US economy helped the euro bounce higher last week, says Matthew Clements, economist at Prebon Yamane in London

The euro rallied more than two big figures last week to $0.9120, as bearish dollar sentiment was reinforced by the release of very weak US economic data. Unemployment and manufacturing figures for October reported a sharp deterioration in conditions beyond what was generally expected in the market. Furthermore, fears of further terrorist attacks and more negative e