Shifting rates give European currencies fresh legs
The euro and pound are being hurried along by a conveyor belt of interest rate hikes in Europe just as U.S. rates near a peak. This is a reversal of the trends that drove them to multi-decade lows last year. The euro and pound have rallied 4-5% against the dollar since March as market ructions triggered by banking stress die down and signs of resilience in Europe's economies draw investors
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