20 Jan '11, 10am

FOREX-Euro propped up by euro debt solution hopes: * Euro inches up, recovers from early losses

* Market gives EU leaders time to resolve debt problems * Euro helped by yield advantage, rising lending rates * Stellar China GDP stokes rate-tightening speculation By Neal Armstrong LONDON, Jan 20 - The euro edged up against the dollar on Thursday on persistent demand from sovereign accounts, while investors gave euro zone officials time to make progress on finding a sustainable solution to its debt crisis. The single currency recovered from an early slide, shaking off European share price falls, with traders saying Mideast and Asian central banks were buying around the day's low, pushing it back towards a two-month high hit the previous day. Analysts said investors were optimistic the European Union's rescue fund will ultimately offer a comprehensive solution to help euro zone countries finance mounting debts. "There's improved sentiment for the euro in that the market ...

Full article: http://sg.news.yahoo.com/rtrs/20110120/tbs-markets-forex-...

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