Euro Heads for Longest Winning Streak in 8 Months, Survey Shows
The euro may rise for a sixth week, the longest winning streak since December, on signs Europe's economy is gaining traction after barely expanding last quarter, a Bloomberg News survey shows. Fifty-five percent of the 53 traders, strategists and investors surveyed on August 5 from Sydney to New York advised buying the euro against the dollar, up from 38 percent a week ago. More people said to purchase the euro versus the yen than to sell it. The euro strengthened 4 percent since touching a 14-month low on July 5 as business confidence gained in France and Italy and German factory orders increased. The data damped speculation that the European Central Bank would reduce interest rates.
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