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Market Update: Euro Recovers from 2-Month Low
The euro rose above $1.19 Monday, rebounding from a near two-month low hit earlier in the session, supported by renewed hopes of a solid economic recovery in Europe. ECB President Christine Lagarde told the European Parliament that brighter prospects for global demand and a faster-than-anticipated increase in consumer spending could result in a stronger economic recovery, and that it was not yet time to allow interest rates to rise. Lagarde also warned that a tightening of wider financing conditions would be premature and would pose a risk to the ongoing economic recovery and the outlook for inflation. [/s2If]
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