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Euro Stronger Than Deutsche Mark Proves Trichet Currency Remains Credible

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"The euro’s 21 percent tumble from last year’s high has left the currency above the average level since its creation in 1999 and stronger than its predecessor, the deutsche mark," Bloomberg reports. "While former Federal Reserve Chairman Paul Volcker said last month that Europe’s widening debt crisis may cause the 16- nation currency to dissolve, European Central Bank President Jean-Claude Trichet said May 31 the euro is keeping its value in a “remarkable fashion.” Policy makers may welcome the drop to boost exports, Goldman Sachs Group Inc. and Morgan Stanley said." 
SOURCE:   Bloomberg