 Forex - Dollar fell on Monday on expectation of an ECB interest rate hike next month. |
 Jun 17 2008, 1:00
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The Dollar fell against the Euro on Monday as record euro-zone inflation supported expectations of a European Central Bank interest rate hike next month.
Euro zone inflation rose to a record high of 3.7% in May. Analysts said the surge in May's annual euro-zone inflation suggested that a July ECB rate hike was almost certain. An ECB interest rate increase would further enhance the appeal of the Euro at the expense of the Dollar. Lehman's $2.8B quarterly loss, while in line with market expectations, served as a reminder to investors that the credit crisis was still far from over. View the full article |
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