The euro is here to stay and will eventually strengthen, according to David Bloom, global head of FX research at HSBC.
In a report released at the start of the year, he argued that although the eurozone’s fiscal crisis had worsened in recent months and that the political response had been slow and faltering, “the euro has proved resilient” despite regional bond and equity prices.
The strong external position of the currency and expectations that a solution will be found for its problems, means that a final resolution “is the most likely outcome” which would mean closer fiscal coordination or union that is already underway, and...
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