23 May 2001, 20:36 Forex: Euro weak in late trade on more euro zone gloom, brighter U.S. outlook
LONDON (AFX) - The euro remained weak in late trade, hovering
around 0.86 usd for most of the afternoon, as the brighter outlook in
the U.S. and gloom in euro zone economies discouraged buyers, dealers
said.
They added there may be further downside to the euro, although
gains may be seen in the near term on short-covering.
CIBC's European economist Audrey Childe-Freeman believes the euro
may fall to 0.85 usd by the end of the second quarter, dropping further
to 0.82 usd by the end of the third quarter.
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