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Fireworks illuminate the sky around a huge euro sculpture, designed by German artist Ottmar Hoerl, in front of the headquarters of the European Central Bank (ECB) in Frankfurt, January 1, 2002. Several thousand people in Frankfurt celebrated at a party on the streets around the ECB to welcome Europe's new currency, the euro. UNICS REUTERS/Kai Pfaffenbach REUTERS KP - RTRBPKK
Reuters/Kai Pfaffenbach
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The euro’s drop made markets pop this week

By Melvin Backman

The European Central Bank would like a moment of your time, if you can tear your eyes away from the recurring carnage in oil markets. The ECB finally got started with its sovereign bond-buying program aimed at bringing the economy back from the brink. As a result, the euro is falling against the US dollar, to levels not seen in some time—enough to get folks chatting about parity between the two (especially vacationers and fashion enthusiasts).

Markets broadly rallied in Europe, though London’s FTSE 100 index couldn’t find any joy in the festivities.