In the News: Reuters

Portfolio manager Axel Merk tells Reuters that during the recent market turmoil the euro has been a bedrock of tranquillity

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And there are some asset managers buying into a 'strong- euro' notion. Axel Merk, president of Merk Investments in Palo Alto, California, for instance, has started significantly buying euros despite the euro-zone sovereign crisis.

'Compared with the United States and Japan, the euro zone has been spending and printing less money. That is why the euro here is trading near $1.45 and not parity,' said Merk, who manages assets of more than $750 million.

He added that the euro has been the least volatile of the major currencies and, in fact, may be a bedrock of tranquillity in times of distress…"