The EUR is undergoing a difficult period, as uncertainty reigns regarding the restructuring of Greek, Irish and Portuguese sovereign debt. The ECB has refrained recently from purchasing such debt, partly to push governments to greater efforts to restore confidence, and partly in fear of a populist political backlash against bail-out programmes. The US economy is supposed to be recovering ahead of the overall EUR bloc, and has lower inflationary pressure, so should the EUR therefore not be falling against the USD? |
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Since the opposite is actually happening, the US must be in an even worse state. |
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