The euro has passed its biggest stress test, rising 8% from a four-year low last month, but its...

|By:, SA News Editor

The euro has passed its biggest stress test, rising 8% from a four-year low last month, but its rally may be little more than a summer fling. Many believe it reflects concerns about the U.S. economy more than improved sentiment toward Europe. "There has been a big dollar component" to the euro's rally, a Nomura strategist says. "The market changed its assessment of the dollar fairly dramatically."