European exporters safe despite stronger euro

The euro has strengthened more than 8% against the US dollar since the start of this year and is hovering at record high levels, leading to concerns that EuropeÆs export-led recovery will be derailed. Keith Wade, London-based chief economist at Schroders, says that while a stronger euro does pose some threat to exporters, this should be cushioned to an extent by the regionÆs growing exposure to Eastern Europe, Russia and Turkey. He adds that European companies continue to display stro…