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. Last Updated: 07/27/2016

Euro Forecast to Rise

FRANKFURT, Germany -- Bundesbank president-designate Ernst Welteke was quoted as saying Friday that the economic recovery in the eurozone and the weakness of the U.S. trade balance should help the euro strengthen.

"The end of weak European growth is in sight and a recovery improves yield prospects, draws more international capital and lifts the euro exchange rate," Welteke was quoted by the Capital financial monthly magazine as saying.

Welteke replaces retiring Hans Tietmeyer at the end of this month.