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he euro headed for its biggest weekly gain against the greenback in more than a year as stock markets gained and concern over Europe’s debt crisis eased.
“There is an incredible amount of deleveraging going on in the economy,” Herrmann, a senior fixed-income strategy, said yesterday in an interview on Bloomberg Radio with Tom Keene. “Organic growth in the economy is likely to decelerate” as government stimulus fades and temporary census workers complete their contracts, he said.
Maybe it’s just World Cup fever coursing through London’s financial district, but it feels like summer is coming a little early to Europe’s financial markets.
While the euro has been slowly rising this week, analysts question the sustainability of the rally.