In the currency market, the euro weakened against the dollar, buying 88.50 U.S. cents, compared with 89.65 cents in late New York trading a day earlier.
The Euro currency deteriorated on the world foreign exchange market as traders sought out the U.S. dollar and U.S. Treasuries for safe-haven assets.
The Euro currency is withering in the world foreign exchange market and traders are seeking out the U.S. dollar and U.S. Treasuries.
As early as the beginning of June, when the euro reached its low point, some market watchers believed that China had already begun buying the euro, enabling the currency to stabilize.
The value of euro banknotes in circulation and the market for euro-denominated securities already rival the dollar, a long-established currency backed by a single nation-state.
If one thing has become clear over the last five years in Cyprus, it is that the euro area, which is not just a market economy but a currency union with strict rules, is not compatible with a communist government.
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But despite having shared a single market with one currency for nearly a decade, the euro zone has never established the polticial and regulatory integration that would allow it to face a crisis of such proportions as one.
Once the euro comes in, several countries will have the same currency, creating a giant market.
The euro remains the natural currency (for historic, political and geographic reasons) for emerging market countries in Eastern Europe, parts of the Middle East and North Africa.
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In the euro area, the introduction of the single currency and the creation of an integrated financial market will change both the definition of the money supply and its relationship to inflation.
Sony was helped in the final quarter by a currency market that knocked almost 20 per cent off the yen's value against the dollar and euro compared with the same period a year earlier, amplifying its overseas earnings.
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