The euro fell to an eight-week low against the dollar this morning on speculation the European Central Bank will keep interest rates unchanged at a policy meeting today while signaling concern that economic growth is slowing.
The 15-nation currency declined for a second day after the
Financial Timessaid the US and Europe want to see the dollar rise, citing officials it didn't identify.
The British pound traded near a 2 1/2-month low versus the dollar before today's meeting of the Bank of England and after an industry report yesterday showed UK consumer confidence fell.
The euro traded at $1.5329 at 8am (Irish time), from $1.5392 yesterday in New York. It earlier touched $1.5285, the lowest since March 11th.
It has lost 4.2 per cent since April 22nd, when it reached a record high of $1.6019. The euro fell to 160.38 yen from 161.23 yesterday, after reaching 160.20 yen, the weakest since April 15th.
The pound bought $1.9530, near the lowest since February 21st. The dollar was at 104.71 yen from 104.73.
The New Zealand dollar fell to 77.38 US cents from 78.15 cents after a government report showed the country's employers cut the most workers in 19 years.
The Australian dollar pared losses to trade at 94.20 US cents after the number of employed in the nation rose for a record 18th month.
The ECB and the Bank of England are forecast to maintain their lending targets at 4 per cent and 5 per cent, respectively, at meetings today, according to Bloomberg News surveys.
The euro's losses may be limited by a surge in the price of crude oil to a record $123.93 a barrel.