# Euro uncertainty to continue

## MARKET NEWS

FRANKFURT - The uncertainty surrounding the euro's future direction is continuing, and FX market participants are split on the outlook for the currency, with 12-month forecasts ranging from $0.77 to$1.10.

In spite of growing economic gloom in the US and a series of deep interest rate cuts there, the single European currency has remained mired below the \$0.90 level. For much of last year, however, speculation had been that the euro would recover once the all-powerful US economy cooled its 10-year