Just six months ago, on March 20, the euro hit its lowest level in three years at $ 1.0657.
Much of Europe was locked in confinement of uncertain duration.
The masks were missing.
The Europeans closed their borders in cacophony, giving the impression of an “every man for himself”.
The spread between sovereign interest rates (“spreads”) was widening, with the specter of a new debt crisis.
A wave of panic swept through the financial markets, prompting central banks to heat up their boards like never before.
Six months later, the euro gained more than 10% to flirt at the end of August with the 1.20 dollar mark, its highest level in two years, before declining slightly since above 1.18.
So much so that the rise is starting to cast a shadow over the recovery.
The President of the European Central Bank (ECB), Christine Lagarde, normally not supposed to comment on foreign exchange, assured by
"watching carefully"
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