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Euro Is a Haven and So Much More to Traders

  • Common currency cements safe harbor status amid market stress
  • Improving macroeconomic backdrop seen fueling further gains
Bloomberg business news
Jalinoos Says Euro Will Continue to Go Higher
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When the going gets tough, traders are increasingly buying the euro these days.

Europe’s common currency, which just a few years ago was almost a byword for political instability and faced threats to its very existence, is now attracting buyers at times when risk assets around the world are being sold. Part of that is due to haven flows and investors unwinding carry trades. But it also reflects a market that is increasingly upbeat about growth and inflation in Europe even as central bankers remain reticent about dialing back stimulus.