September 08, 2011 at 15:19 PM EDT
Weaker Euro Could Be in Store as Officials Struggle With Debt Crisis
As expected, the European Central Bank stepped back from its rate hiking cycle, removing one plank from the floor under the euro.The euro softened on the news, and as the ECB Thursday also downgraded its view of the eruo zone economy. But some analysts believe the euro may already be in for a soggy period, as Europe grapples with its peripheral sovereign debt concerns and it could be heading to a new lower range.
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