US Economy Optimism Aids Euro Stability

MARKET NEWS

Expectations that the US economy may not slip into recession have helped the euro remain relatively stable, explains Matthew Clements, economist at Prebon Yamane in LondonD

Dollar profit taking provided a mid-week boost to the euro, pushing it back above $0.88 after several days of solid dollar gains. Notwithstanding day-to-day euro/dollar movements, the relative stability of the euro in recent weeks reflects, to a large extent, a consolidating market consensus over the outlook for the US

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