5/20/2010

The euro's decline against the U.S. dollar is probably good news for Europe's economy, said John Lipsky, the International Monetary Fund's first deputy director. The former chief economist at JPMorgan Chase said the adjustment brings the euro closer to an "equilibrium value" and likely will help Europe's exports. Goldman Sachs Chief Economist Jim O'Neill said the shift is correcting the currency's overvaluation.

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Bloomberg, Reuters

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