Revenge of the Euro

The key benchmark, say analysts, is the psychologically significant price of $1.367 to the euro, which is the record high, reached in 2004. Above that mark, the ECB would have to consider drop-ping interest rates against its wishes in order to decrease foreign investment in the currency. But short of that, Europeans' increased purchasing power is simply setting the tone for a very merry Christmas, with plenty of American presents under the tree.

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