Thu, 26 Jul 2012 08:46:36 GMT
Euro Falls Back as Short-Covery Drive Disappears
On Thursday, the Euro slipped 0.2% to
$1.2134, but still staying above the two-year low of $1.2024. The
Euro climbed on Wednesday as ECB Governing Council member Ewald
Nowotny said he sees reasons for giving ESM a
banking license that would expand its crisis-fighting possibilities.
However, ECB President Mario Draghi denied the idea, while other
legal problems might also prevent the process.