American focus: Euro falls the most in 8 years on reduced bets for higher rate [M] :: Forex & Stocks :: Валютный рынок, Фондовый рынок

The euro fell the most in almost eight years against the dollar as traders pared bets the European Central Bank will raise interest rates as the economy slows.

The euro is poised for its biggest weekly loss since January 2005 after ECB President Jean-Claude Trichet yesterday said economic growth will be ``particularly weak'' through the third quarter.
The European currency has declined 3.1% against the dollar in its fourth weekly decline, the worst losing streak since May 2007. Against the yen, the U.S. currency has advanced 2.1%, heading for its biggest weekly gain in almost two months. Crude oil fell to a three-month low.
The pound fell below $1.93 for the first time since March 2007 as the Bank of England kept its main interest rate steady at 5% yesterday after inflation accelerated and the economy teetered on the brink of a recession. It has dropped 2.7% this week, its biggest weekly drop in three years.

08.08.2008 21:03

American focus: Euro falls the most in 8 years on reduced bets for higher rate [M]