The Coming Week in Europe: Euro Finally Finding Its Legs?
BERLIN -- It's been a rocky couple of weeks for the euro, but the coming week might finally give the battered currency a chance to begin to return to a relative state of normalcy.
Only two weeks since the world's most powerful central banks intervened in the foreign-exchange markets to prop up the currency, the euro even weathered the Danish euro referendum last Thursday, with the fussy Danes voting by a larger-than-expected margin to spurn the euro in favor of their familiar krone.
Next week will certainly see plenty of pundits and observers continuing to speculate what the longer-term effects of that rejection might mean for the euro and the European Union, but the threat of further intervention by the European Central Bank and the Federal Reserve appears to have helped the euro find its legs.
That could help U.S. companies with operations in Europe, which have watched the euro's fall erode profits. In recent weeks, euro-related problems have helped prompt earnings warnings from companies including DuPont (DD Quote), McDonald's (MCD Quote), Gillette (G Quote) and Newell Rubbermaid (NWL Quote). ...
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