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Week Ahead: Euro Unlikely To Find Succor In ECB Policy Meeting
The European Central Bank is expected to take a pause in its interest-rate-cutting campaign next week, but that's not likely to bring a reprieve to the euro, which remains trapped in a vicious cycle of rising government borrowing costs and weak economic data. The first week of 2011 hasn't been an encouraging one for Europe's common currency. After a brief bout of optimism fueled by improved manufacturing data at the beginning of the week, it eventually succumbed to broad pessimism about the debt crisis that's stalking the 17-nation currency area. By Friday, the euro had sunk to a 15-month low below $1.27 and its ... (full story)
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