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U S, China And Bric Happy To Force Euro Higher

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Economic powers meet amid threat of currency war

Andrew "Andy" Beatty, 17:34, Friday 8 October 2010
The specter of a damaging global currency war hung over a meeting of economic powers in Washington Friday, with slim hopes for a quick deal that could give world recovery a shot in the arm.
China has rebuffed pressure to lift the value of the yuan, fearing it would put Chinese businesses at risk.
Meanwhile European officials said a rapidly rising euro, victimized by an undervalued US dollar and Chinese yuan, could threaten eurozone recovery and vowed to press both Washington and Beijing to take action.
"The euro appears to be too strong today," said the chairman of eurozone finance ministers, Jean-Claude Junker

If the US and China have already reached a decision that the Euro will be higher to reduce their competitive edge it seems that its a done deal. Might be a good thing to buy the Euro up until the point where its higher value causes loss of market share and it all collapses in the dust?

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  • 420 Brexit, House prices and Summer 2020

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      • down 5% +
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