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Depreciation of the euro
 Le 28 january 2010
Hampered by ongoing concerns over Greece and the risk of contagion within the eurozone, by mid January the euro had settled below 1.44 dollar. Foreign exchange dealers fear that contagion will spread to other countries, notably Portugal and Spain. And the declarations of ECB president, Jean-Claude Trichet, that Greece will not receive any special treatment were not enough to reassure them. In view of this, investors are taking refuge in investment vehicles that are considered safe, such as the dollar and the yen, benefiting more generally from a certain degree of prudence in the wake of weaker-than-expected US indicators. The slight rise in the US Consumer Confidence Index in January was disappointing and US prices saw a very slight increase of 0.1% in December, bringing inflation for 2009 to 2.7%.
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| LAST ISSUE |
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Commerce International - September 2010
No 66
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English 
