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Investors Turn To Euro In Times Of Stress
Just a few weeks ago, the Greek debt crisis put the future of the euro in doubt. Now, it has become a go-to currency for investors in times of stress. The euro surged above $1.17 against the dollar Monday, its strongest level since January, as stock markets plunged around the world. "The euro is being treated as a safe haven," said Robin Brooks, a currency analyst at Goldman Sachs. The currency has climbed more than 10% against the dollar since March. At the time, the euro fell to a 12-year low shortly after the European Central Bank began pumping billions of freshly minted euros into the region's financial system ... (full story)
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