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Celebrations
marking the introduction of the Euro have turned to concern as the value of
Europe's single currency continues to drop against the US Dollar. The Euro is
currently appraised below 86 cents to the Dollar, and is also performing poorly
against the Japanese Yen, the British Pound, and the Swiss Franc. The IFO index,
Germany's key economic indicator, has benefited little from the introduction of
the Euro, posting a rate of 86.3 points. Since the introduction of the European
single currency Euro, the dollar has emerged as the clear winner, reinforced by
statements made by US Federal Reserve Board Chairman Alan Greenspan, who
believes that a recovery in the global economy will be anticipated and
spearheaded by America.
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