-->11:11am EST 02/11/04 Euro gains as Greenspan reaffirms patient Fed view By Rachel Koning

CHICAGO (CBS.MW) -- The euro was up 0.5 percent at $1.2729 in the wake of testimony from Federal Reserve Chairman Alan Greenspan, who stressed a go-slow approach to U.S. interest rates. Still, the Fed chief said low U.S. rates won't be appropriate forever, while he also stressed positive developments for the U.S. economic recovery. Low rates have contributed to the dollar's double-digit slide over the past year against the euro, and its multiyear lows vs. a host of currencies.

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