The European Central Bank Wednesday declined to comment on financial market speculation that the ECB and other major central banks are preparing to intervene in the foreign exchange markets to prop up the flagging euro.
The talk comes as traders are circulating a report from a U.S. think tank that is said to note that the Group of Seven leading industrial nations are concerned about the speed of the euro's decline. The report is also said to note that major central banks may be preparing a verbal intervention to support the currency "if the rout continues."
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