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Why hasn't the euro zone crisis hammered the euro?
The euro has held up relatively well on the foreign exchanges despite a two-year-old sovereign debt crisis that has seen euro-denominated bond yields rising to record levels and talk the currency bloc may not even survive. The euro has weakened in recent weeks as euro zone debt yields have soared with a solution to the crisis elusive, though investors have held off from selling the currency aggressively compared with other assets. While the single currency has retreated from $1.42 to hit a one-month low of $1.3421 this week, it is up nearly 2 percent so far this year, and its recent pull-back has lagged declines in ... (full story)
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