Wednesday, 09 May 2007

Dollar Is Little Changed as Federal Reserve Says Inflation Is Main Concern

(Bloomberg) -- The dollar was little changed against the euro after the Federal Reserve said in its statement that inflation remains its predominant concern.

The central bank held its benchmark rate steady at 5.25 percent for a seventh straight meeting since raising it to that level in June. Traders expect the European Central Bank will signal tomorrow that a boost in borrowing costs is likely next month.


Read more at Bloomberg Currencies News

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