Bullish dollar drives euro lower
MARKET NEWS
US dollar strength and Germany’s budget deficit could take the euro to new lows, says Matthew Clements, economist at Prebon Yamane in London
Euro/dollar fell to a one-month low last week, breaking below 0.88 in intra-week trading, as bullish dollar sentiment put the euro under renewed pressure.
The euro now stands on the edge of a significant depreciation to new lows unless US fundamentals or official rhetoric start to change direction. The release of stronger than expected data from the
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