High noon for euro as ECB meets


FRANKFURT -- The euro will come under increased pressure if the European Central Bank fails to cut eurozone interest rates this week, analysts told FX Week. And even if rates are cut, much of the damage to the euro has already been done, they say.

"Sooner or later they [the ECB] must cut rates, but it is too little much too late," said John Shepperd, global markets economist at Dresdner Kleinwort Wasserstein in London. "The ECB's tardiness over monetary policy is cited, particularly in the US

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