...

Euro declines against dollar on concern rate increases may damage periphery

Business Materials 4 April 2011 16:18 (UTC +04:00)
The euro fell against the majority of its most-traded peers on concern interest-rate increases by the European Central Bank will widen the divide between the region's weakest and strongest economies, Bloomberg reported
Euro declines against dollar on concern rate increases may damage periphery

Azerbaijan, Baku, April 4 / Trend /

The euro fell against the majority of its most-traded peers on concern interest-rate increases by the European Central Bank will widen the divide between the region's weakest and strongest economies, Bloomberg reported.

The single European currency snapped a four-day advance against the dollar and a five-day gain versus the yen. The ECB will raise its benchmark interest rate to 1.25 percent on April 7, from a record-low 1 percent, according to all 57 economists in a Bloomberg News survey.

The euro fell 0.1 percent to $1.4219 and 119.53 yen, as of 8:14 a.m. in London. The yen was little changed at 84.05 per dollar.

Latest

Latest