Proponents of European unity have long dreamed of creating a single Common Market currency. Lately the finance ministers of the Market nations have taken a long step toward that goal by limiting the distance that their currencies can fluctuate against each other in the world's money markets.
The accord, which is to take effect by July 1, reduces the "trading margins" of the six member currencies from 4½% to 2¼%. In practice, that will mean Common Market currencies can drift no more than l⅛% either above or below the midpoint of the new...
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