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Money Glut in Eurozone Drives Greenback Demand

Money Glut in Eurozone Drives Greenback Demand

Money-rich eurozone banks are dashing to alter their euros into {dollars} by the top of the yr, driving a key measure of demand for the buck.

The rates of interest on three-month euro cross-currency foundation swaps, through which one social gathering borrows a foreign money and lends their very own in return, have turned extra destructive in latest weeks. Meaning merchants in Europe are paying a premium to alternate extra euros for {dollars}.

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