Draghi Gets Weaker Euro With Economy Needing It Most
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When the European Central Bank’s Mario Draghi addresses global policy makers in Jackson Hole, Wyoming, he’ll have one thing going for him in an economy that Nobel laureate Joseph Stiglitz labeled a “dismal failure.”
European investors facing record-low interest rates are sending the most money overseas in six years, an ECB report showed this week. That has helped push the euro to an almost one-year low versus the dollar, and is supportive of further “downside,” according to Goldman Sachs Group Inc.