The Wall Street Journal
August 23, 2013
Why isn’t positive economic data from the euro zone doing anything to help the euro?
This morning there was promising economic news both, both the euro zone, where business activity increased at its fastest pace in two years, from Germany, whose latest GDP data showed the economy growing by 0.7% in the second quarter and from the U.K., where the economy grew more than previously thought in the second quarter. The latter, of course, matters for euro-zone exports.
But investors remain stubbornly reluctant to push the single currency above the $1.34 level where it’s been capped for most of this year.