Marco Buti, head of the European Commission’s economics department, noted in a report today that a weaker euro could increase exports from the region. The euro has declined 14 percent against the dollar this year, closing yesterday at $1.2296.
Ã¢â‚¬Å“The euro-area recovery remains on track although the renewed market turbulence seen over the past two months shows that uncertainty and downside risks remain high,Ã¢â‚¬Â Marco Buti noted. Ã¢â‚¬Å“Near-term growth prospects remain rather subdued, with the recovery gaining traction only towards the end of this year and into next,Ã¢â‚¬Â he added.
Source: Bloomberg 
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.