The euro could struggle to recover unless there is a significant improvement in eurozone economic activity data, Rabobank's Jane Foley says in a note. Changing levels of enthusiasm for the euro since last year have played an underestimated role in the movements of the euro-dollar exchange rate, she says. The market was betting on a stronger euro until the Iran war weakened the eurozone growth outlook, she says. Without much improved eurozone data, it will be difficult for euro traders to regain optimism. In contrast, the dollar should remain supported by a better-than-expected labor market, a resilient consumer sector and strong inflows into U.S. stocks, she says. The euro rises 0.2% to $1.1408. (renae.dyer@wsj.com)
Dow Jones Newswires
Euro Could Struggle to Recover Unless Eurozone Growth Outlook Turns Positive — Market Talk
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The euro could struggle to recover unless there is a significant improvement in eurozone economic activity data, Rabobank's Jane Foley says in a note. Changing levels of enthusiasm for the euro since last year have played an underestimated role in the movements of the euro-dollar exchange rate, she…