Dutch cooperative bank: The recent rise of the Euro has weakened somewhat, but the Euro against the US Dollar remains stable.

Jane Foley, foreign exchange strategist at Rabobank, said that investors' positions are a key factor in the recent stability of the euro against the US dollar. The US dollar has performed the worst this year, recording another monthly decline in August, but the euro has been mostly consolidating in recent months. Earlier this year, the market had built up a large number of bullish positions on the euro due to optimism about Germany's fiscal spending plans. However, these fiscal plans may now face cuts. With weak economic growth in Germany, the upward momentum of the euro has weakened in recent times.