(Bloomberg) -- The euro dropped against the dollar on speculation traders reduced bets the European currency will climb beyond its all-time high before the Federal Reserve and the European Central Bank set rates this week.
The yen strengthened against the dollar and the euro as traders trimmed risk. Bets on a stronger euro and a weaker yen are approaching record highs, making the currencies prone to swings. Investors are betting the Fed will point to signs of economic weakness, while the ECB is expected to signal a June increase in borrowing costs is likely.
Read more at Bloomberg Currencies News
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