Dollar trades near all-time low vs euro
The currency is heading for the longest losing streak since October 2004 as investors increase bets the Federal Reserve will reduce its target rate next week.
By Agencies |
Dollar trades near all-time low vs euro
SYDNEY: The dollar traded near an all-time low versus the euro on signs US economic growth is slowing, suggesting an interest-rate advantage over Europe will narrow.
The currency is heading for the longest losing streak since October 2004 as investors increase bets the Federal Reserve will reduce its target rate next week.
Faster wage growth signalled borrowing costs in Europe may rise, while a US government report today will probably show higher unemployment claims.
The dollar traded at 1.3892 per euro in Tokyo from 1.3904 late in New York yesterday, when it declined to a record low of 1.3914. The dollar bought 114.24 yen from 114.25 yen and was at 2.0288 versus the British pound from 2.0291.
The euro may climb to a record against the dollar for a second day on speculation European Central Bank council member Yves Mersch will reiterate policy makers' concern inflation will accelerate.
Traders added the ECB will raise interest rates to curb rising prices as crude oil advanced to a record high yesterday on concern storms in the Gulf of Mexico and the Atlantic will disrupt output.
SYDNEY: The dollar traded near an all-time low versus the euro on signs US economic growth is slowing, suggesting an interest-rate advantage over Europe will narrow.
The currency is heading for the longest losing streak since October 2004 as investors increase bets the Federal Reserve will reduce its target rate next week.
Faster wage growth signalled borrowing costs in Europe may rise, while a US government report today will probably show higher unemployment claims.
The dollar traded at 1.3892 per euro in Tokyo from 1.3904 late in New York yesterday, when it declined to a record low of 1.3914. The dollar bought 114.24 yen from 114.25 yen and was at 2.0288 versus the British pound from 2.0291.
The euro may climb to a record against the dollar for a second day on speculation European Central Bank council member Yves Mersch will reiterate policy makers' concern inflation will accelerate.
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Traders added the ECB will raise interest rates to curb rising prices as crude oil advanced to a record high yesterday on concern storms in the Gulf of Mexico and the Atlantic will disrupt output.
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