Euro enjoys an exaggerated move higher
In thin trading due to a US bank holiday, the euro enjoyed an exaggerated move higher thanks to Merkel and Sarkozy's pledge to come up with a comprehensive plan to deal with the debt, growth and financial issues in the eurozone.
The euro drifted higher against the dollar and yen on Wednesday and posted its third straight month of gains, but uncertainty about the heavily indebted euro-zone economies could limit further strength.