The picture has changed dramatically in recent weeks
A European recession looked like a no-brainer just a few weeks ago, but that picture has changed dramatically, and investors have started pouring money into the region’s stocks, currency and bonds.
Markets are picking up those positive vibes. The euro is set for its largest three-month gain against the dollar since 2011, having risen nearly 10%. Dutch natural gas futures, a regional benchmark, have fallen back to where they were before Russia invaded Ukraine and are down 80% from their August peak.
“Lower gas prices are surely a positive, but their rapid fall also tell us that they can rise just as fast should things go wrong. I’m managing my assets very carefully,” he said.The euro has stormed 15% higher against the dollar from September’s 20-year low of $0.9528 and some analysts think it has much further to go.
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