Euro Rally May Be Temporary

from WSJ:
Investors' recent romance with the euro may just be a summer fling.
Before taking a midafternoon slide Wednesday, the euro had advanced more than 9% on the dollar since June 7, climbing to $1.30 this week from a four-year low of just under $1.19.
The euro benefited from some improved sentiment toward Europe: worries about the region's sovereign debt woes have eased and investors are anticipating that stress tests on European banks will allay fears of a meltdown in the banking system.
But many say the euro has been more a reflection of concerns about the U.S. economy than optimism