Euro tries to stabilize after decline
The euro is heading towards stability after its sharp losses that lasted five weeks against the dollar, as it increased today by 0.2% to reach 1.123 dollars, following a decline to its lowest level in 17 months at 1.1161 dollars. Concerns over the rising French debt burden and the difficulty of implementing spending cuts have put pressure on the European currency, which has fallen more than 3% over the past five weeks. Despite the euro's decline, indicators of the European economy's robustness, along with positive outlooks for German economic growth, may help it stabilize soon.
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