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From the change in the exchange rate, it is not possible to make any inferences about the value of the dollar or the euro .
He blames the continued strength of sterling against other currencies, particularly the euro .
And next February the Irish punt will cease to be legal tender when it is replaced by the euro .
It has been years now since much of Europe abandoned national currencies for the euro .
It predicted that the dollar would fall to $1.07 against the euro in the current year.
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