African banks buoy euro's fortunes as greenback's decline continues

foreign exchange

Buying by some of Eastern Europe's and Africa's central banks is buoying the euro as the central bankers come to realise the currency will "be around for the next 15 to 20 years," according to a leading Frankfurt forex manager.

Asoka Woehrmann, lead manager on DWS's Hedge Long/Short Currency fund, said the euro's fortunes have also been helped by Russia's central bank openly talking about shifting half its currency reserves to the euro. There has also been widespread support for the euro becoming

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