Dollar Trades Near Record Low Against Euro Before Central Bank Meetings

(Bloomberg) -- The dollar traded near a record low
against the euro and the weakest in 26 years versus the British
pound on speculation central banks in Europe will raise interest
rates while the Federal Reserve remains on hold.

The U.S. dollar has declined against 14 of the 16 most-
active currencies this year as a housing slump prompted traders
to bet the Fed will hold, or lower, borrowing costs this year.
The Bank of England will probably raise rates tomorrow for a
third time this year and the European Central Bank may signal
plans to add to two increases this year to tame inflation.


Read more at Bloomberg Currencies News