International Financial Outlook by Lloyds TSB

Signs of weaker economic growth in the US has led to a fall in the dollar and a rise in its counterparts. Notable amongst the latter has been the seeming turnaround in the fortunes of the euro. Signs of weaker economic growth in the US has led to a fall in the dollar and a rise in its counterparts. Notable amongst the latter has been the seeming turnaround in the fortunes of the euro. It has moved from being under 1.20 versus the US $ in the previous month to being above 1.30 in August. One does have to wonder whether the economic recovery in the US has lost that much momentum, or that Europe has gained so much, to wonder whether this shift can be justified by the economic and market news released in the last month, negative though it has been for the pace of the US economic recovery.

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