Euro Mauled by Political Risk Is Ready to Be Revived by Draghi

The shared currency lost more than 5 percent in value against the dollar through April and May, making it “quite attractive” for Russell Investments, which oversees about $300 billion. Fading political risks surrounding Italy’s euro-skeptic coalition government and the prospect of the European Central Bank raising interest rates as early as next year also argue in favor of holding the currency, according to the Seattle-based fund. “The euro is quite attractive for a couple of reasons,” Gerard Fitzpatrick, the chief investment officer for Europe, Middle East and Africa at Russell, said in an interview with Bloomberg Television.