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Morning briefing: euro rises against dollar as U.S. recovery slows


* The euro strengthened against the dollar to its highest level since the region's $1 trillion bailout was announced on May 10. While the U.S. is worried about an economic slowdown, the recovery appears to be accelerating in some of the 16 nations that use the currency.

* The European Commission said Thursday that economic sentiment is at its highest in more than two years and Germany said new statistics show that its labor market is on the road to recovery.

* Hungary raised more funds than planned at its first auction of debt maturing in three years since talks with international lenders broke down. The government raised 57.5 billion forint ($265.4 million) compared with a target of 50 billion forint.

* Brazil's central bank said that inflation risks in Latin America's biggest economy have fallen as growth slowed to "sustainable" levels.

* China may face deflationary pressures in the latter half of this year, according to the government's National Development and Reform Commission, and its economic growth path may be "W-shaped." Wang Xiaoguang, head of macroeconomic research, said the consequences of China's curbs on loans for property investment should be visible in the first quarter of 2011.

By Ariana Eunjung Cha  |  July 29, 2010; 9:03 AM ET
Categories:  *Morning briefing  
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