Dollar Trades Near Record Low as ECB, BOE May Raise Rates Faster Than Fed

(Bloomberg) -- The dollar traded near a record low
against the euro and the weakest in 26 years versus the British
pound on speculation central banks in Europe will raise interest
rates faster than the Federal Reserve.

The dollar has declined against 14 of the 16 most-traded
currencies this year as a U.S. housing slump prompted traders to
bet the Fed will hold, or even lower, borrowing costs this year.
The Bank of England will probably raise rates tomorrow for a
third time this year and the European Central Bank may signal
plans to add to its two increases this year to tame inflation.


Read more at Bloomberg Currencies News