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The euro is +0.7% vs. the dollar after Merkel and Sarkozy pledge to formulate a plan by the end...

The euro is +0.7% vs. the dollar after Merkel and Sarkozy pledge to formulate a plan by the end of the month to recapitalize eurozone banks, settle the Greek crisis and boost growth. However, the lack of details and the ineffectiveness of previous promises are causing investors to remain cautious.
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