Dollar May Fall as Slower Economic Growth Points to Lower Interest Rates

(Bloomberg) -- The dollar may decline to a record low against the euro and drop for a third day against the yen on speculation U.S. data will show the world's largest economy is slowing, suggesting interest rates are more likely to fall.

The U.S. currency suffered a setback yesterday after disappointing existing home sales and consumer confidence. Traders may look beyond estimates for improvement in new home sales and durable goods orders as gross domestic product due April 27 will show the economy expanded at its slowest in more than a year, according to a Bloomberg survey.


Read more at Bloomberg Currencies News