Dollar Falls Versus Yen, Euro on Outlook for Lower U.S. Rates by Year-End

(Bloomberg) -- The dollar fell versus the yen, pound
and euro on speculation a worsening outlook for U.S. growth may
prompt the Federal Reserve to cut borrowing costs by year-end.

The U.S. currency declined to near a record low against the
euro yesterday as reports showed slowdowns in payroll growth and
service industries. The European Central Bank on Aug. 2 signaled
it may raise its interest rate in September. The Fed is forecast
to hold the U.S. lending rate at 5.25 percent on Aug. 7.


Read more at Bloomberg Currencies News