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Euro Doesn’t Look Dangerously High — Yet
Eurogroup President and Luxembourg Prime Minister Jean-Claude Juncker’s comment that the euro was reaching “dangerously high” levels has seen the single currency slide Wednesday against its major rivals. However, it also has the markets’ analysts scratching their heads. For, despite its undeniable New Year pep, the euro doesn’t look overvalued at all by many objective measures, let alone dangerously so. BNP Paribas BNP.FR -1.27%, for example, says its own fair-value call for the euro is $1.32. Admittedly, that’s below the current level but not very far below, by less than a cent at the time of writing. ... (full story)