(Bloomberg) -- The euro dropped from a record high
against the yen and weakened versus the dollar as European
Central Bank President Jean-Claude Trichet's remarks led traders
to reduce bets on two more boosts in interest rates this year.
The European currency weakened as the ECB, which increased
its benchmark lending rate to 4 percent as economists expected,
reduced its growth outlook and held its inflation forecast
steady for next year. The yen strengthened as a decline in U.S.
stocks and rising bond yields in Japan led investors to reduce
speculation against the currency.
Read more at Bloomberg Currencies News
against the yen and weakened versus the dollar as European
Central Bank President Jean-Claude Trichet's remarks led traders
to reduce bets on two more boosts in interest rates this year.
The European currency weakened as the ECB, which increased
its benchmark lending rate to 4 percent as economists expected,
reduced its growth outlook and held its inflation forecast
steady for next year. The yen strengthened as a decline in U.S.
stocks and rising bond yields in Japan led investors to reduce
speculation against the currency.
Read more at Bloomberg Currencies News
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