Euro stumbles after recent rally; outlook bullish

London

THE euro slipped a third of a percent on Monday as investors took profits after a recent rally though currency markets remained bullish about the outlook for the single currency on the backdrop of a strengthening economic recovery.

With foreign exchange markets extending the "sell dollar" theme from late last year and Asian stocks creeping towards all-time peaks, the euro's dip was taken as an opportunity to buy the single currency by some investors.