Monday, May 7, 2007

Dollar Drops Against Euro, Within Cent of Record Low, on Growth Outlook

(Bloomberg) -- The dollar fell against the euro, trading within a cent of its all-time low, before a report this week that will probably show slower growth in U.S. retail sales.

The dollar fell against all 16 major currencies on bets the Federal Reserve will point to signs of U.S. economic weakness at its policy meeting this week, reinforcing the case for a cut in borrowing costs this year. The U.S. currency also weakened versus the euro on higher European interests expected in June and on a report last week showing the U.S. added the fewest jobs in April in more than two years.


Read more at Bloomberg Currencies News

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