Back to basics: euro fundamentals

EURO COMMENTARY

Looking beyond the physical launch of the euro, Matthew Clements examines the fundamentals affecting the new currency last week

The introduction of euro notes and coins on January 1 undoubtedly provided something of a fillip to the euro last week as the changeover appeared to go according to plan in most, if not all, of the twelve eurozone countries. This pushed euro/dollar back above its 200-day moving average to 90.40, its highest close since late October.

However, 2001 showed repeate