Last week, following the euro’s stellar gains in January, I asked the question, how high will the euro rise? Well, this week it seems we have an answer, as the euro not only stabilises but actually falls against the pound and US dollar.
With a rescue for Spain on the horizon, the big question is whether strict new conditions will be attached.
The euro gained two cents against the US dollar, reaching 1.23, this week, as ECB president Mario Draghi promises to pull out all the stops to save the euro. But how will he back up his determined rhetoric?
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