EURO AND EU ECONOMY STRENGTHENING: Dollar falls for 4th week
Recent indicators in Europe offer more hope. An index of confidence based on responses from 35,000 executives in the 12 euro nations rose to minus 8 in July, the highest in four months, the European Commission said yesterday in Brussels. And unemployment in France declined for the first time in six months. Some traders said any signs of recovery from a second- quarter slowdown in Europe may encourage speculation the European Central Bank will eventually raise its benchmark interest rate, which at 2 percent hasn't changed in more than two years.
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