J.P. Morgan: Dollar Fall May Hurt Europe's Insurers

NU Online News Service, Jan. 13, 4:15 p.m. EST?The U.S. dollar's continuing weakness could hurt the earnings of some major European insurers, the investment brokerage firm, J.P. Morgan Securities Inc., warned today.[@@]

In its research note released this morning, the New York-based brokerage said that for 2004 it now has an expected average U.S. dollar/Euro rate of 1.35, and U.S. dollar/Sterling rate of 1.90, due to the softening U.S. currency.

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