The world’s biggest banks are more optimistic about the euro than the European Central Bank, though this is possibly because it’s the ECB that’s pumping the cash into the region’s financial system. There are signs it’s having an effect, however, as the common currency has risen 1.3 percent, coming off the bottom of a 10-year low. Bank of America Corp. and Morgan and Stanley have raised their estimates for the 17-nation single currency this month, with traders predicting that the break up of the currency is no longer an issue. “We’ve been gradually feeling better about Europe,” David Woo, the global head of rates and currencies at Bank of America told Bloomberg. “That combined with the fact that the global economic outlook has improved, including U.S. growth gaining momentum, has made us less bearish on the euro.” he added.
