The euro has thrown away ground against the dollar.

The euro has thrown away ground against the dollar, on the contrary is stronger against the yen owing to doubts over the practicalities of the EU's Stability growing Pact.

The euro has undoubtedly been trading below pressure after European Commission President Romano Prodi was quot as saying the EU's deficit curb rules were "stupid, like all rigid decisions". Prodi's notions were echoed by a growing chorus of European Policy makers that want a loosening of the putting out Stability Pact, which requires euro girth governments to limit its stock deficits to within 3% of GDP

Germany is already putting that theory