A euro rally with a difference

MARKET NEWS

Among a series of rallies for euro/dollar in its 42-month history, the latest is different because foreign investors are no longer willing to buy US assets, says Andrew Joncus (right), chief editor of FX Web at UBS Warburg in London

Since the euro was launched it has enjoyed a number of rallies, most of which ended in disappointment. The 10-figure rise of euro/dollar over the past two months is different because foreign investors are no longer willing to finance the US current account deficit