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News Summary: Euro rally could slow recovery

The Associated Press

EURORALLY: The euro pushed above $1.37 for the first time since February, drawing warnings from economists who see the threat of a slower recovery for countries that use the currency.

PRIDE RICH, EURO POOR: The strength of the euro — which was trading below $1.30 over the summer, will make Europe's exports more expensive and could put the continent's exporters at a disadvantage.

SLOW BURN: It takes several months for the effects of a rising currency to be felt in the economy, so the consequences of the euro rally may not become clear until the end of the year. However, should the euro continue to rise, there will be pressure on the European Central Bank to act.