The Euro Fell Against the U

The Euro fell against the U.S. dollar in international markets, at least during its earliest period of international trading, probably because

A) Observers had believed all along that the Euro would not be able to challenge the U.S. dollar for global leadership as an international reserve currency
B) Several European economies, including Germany, weakened shortly after the Euro appeared, such that inflation began to gather momentum
C) The European Central Bank did not appear to be interested in establishing for itself a strong international leadership position, at least initially
D) B and C only
E) A, B and C