BACK FROM THE DEPTHS

摘要

The chilly December markets were merciful to at least one person— Wim Duisenberg. As late as October, the European Central Bank chief's days seemed numbered as the euro fell against the U.S. dollar. Then, in late November, the currency began climbing. On Christmas Day, it hit 93￠ in thin Tokyo trading. The level stuck. As of Dec. 28, it was holding around 93.10￠. That's 13% above its low of 82.25￠ reached on Oct. 26.rnMerry Christmas, Mr. Duisenberg!