(Bloomberg) -- The euro declined from a record
against the yen on speculation recent gains already reflect
expectations the European Central Bank will raise interest rates
this year.
The European currency rose to the highest level in two
months yesterday versus the dollar before the ECB's monthly rate-
setting meeting this week. Economists surveyed by Bloomberg News
forecast policy makers will hold borrowing costs at 4 percent
July 5. The euro's rally this year is putting European
manufacturers at a disadvantage, French President Nicolas Sarkozy
said yesterday.
Read more at Bloomberg Currencies News
against the yen on speculation recent gains already reflect
expectations the European Central Bank will raise interest rates
this year.
The European currency rose to the highest level in two
months yesterday versus the dollar before the ECB's monthly rate-
setting meeting this week. Economists surveyed by Bloomberg News
forecast policy makers will hold borrowing costs at 4 percent
July 5. The euro's rally this year is putting European
manufacturers at a disadvantage, French President Nicolas Sarkozy
said yesterday.
Read more at Bloomberg Currencies News
No comments:
Post a Comment