Euro Bulls Crack as Odds of Return to 2013 Lows Jump
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The surprise decision by the European Central Bank to cut interest rates means there’s now about an even chance that the euro, this year’s best-performing major currency, will erase all of its gains in a matter of months.
There’s an almost 50 percent probability that the euro, which has risen more than 5 percent from an April low versus the dollar, will give back its advance by mid-2014, data compiled by Bloomberg show. The odds are the highest in seven weeks and up from 37 percent prior to the ECB lowering rates to a record.