Euro stalls on O’Neill fiscal proposals

EURO COMMENTARY

The US economy may be clouded with uncertainty, but the situation in the eurozone will be of little help to the euro, writes Matthew Clements, economist at Prebon Yamane in London

The dollar got the catalyst it needed last week to make significant gains against the euro, with the announcement by US Treasury secretary Paul O’Neill of plans to expand fiscal stimulus proposals in the wake of the terrorist attacks of September 11. The total pledged towards tax cuts, extra spending, and airline re