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Euro, now a safer bet, emerges a winner from market turmoil
The euro is trading at its highest this year against the dollar, emerging as a clear winner from the recent ructions in global currency markets that have unsettled a strong dollar and halted a relentless slide in Japan's yen. Having broken decisively above the symbolic $1.10 level , the euro's more than 2.5% gain in August sets the currency up for its best month since November. Traders, distracted up until now by the yen's sudden surge after a surprise July 31 Bank of Japan rate hike and a broad-dollar pounding as expectations for U.S. interest rate cuts grow, are paying attention. After all, history shows $1.10 is ... (full story)
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From @DeItaone|Aug 21, 2024post: EURO RISES TO ONE-YEAR HIGH AGAINST THE U.S DOLLAR
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- Posted: Aug 21, 2024 11:48am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,906
