(Bloomberg) -- The euro rose to a two-year high against the dollar on speculation the European Central Bank will raise interest rates further after its president, Jean-Claude Trichet, said borrowing costs are fueling economic growth.
The European currency earlier rose to a record against the yen after the ECB held its benchmark interest rate at 3.75 percent, increasing bets the fastest economic growth in six years will lead to as many as two more increases this year. Then yen gained on speculation its weakness will be discussed at tomorrow's meeting of the Group of Seven in Washington.
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