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File image of Friedrich Merz, Reichstag building, plenary hall, Berlin / Germany. Photographer: Thomas Köhler / photothek, for bundestag.de.

New research from ING shows that the euro has fundamental upside potential, driven by an improving outlook for eurozone growth and interest rates.

The Dutch-based global banking giant concedes that some caution is still warranted over near-term data, but this should not detract from a fundamental shift in sentiment within the eurozone.

For example, Germany’s IFO business expectations survey has reached its highest level in over three years, showing that businesses are becoming more optimistic.

ING notes that even if GDP confirms a technical recession i

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