(Bloomberg) -- The euro rose from a seven-week low
versus the dollar on speculation inflation will accelerate in
Europe, forcing policy makers to push interest rates higher
through the rest of this year.
The euro rallied the most in almost three weeks against the
dollar after Financial Times Deutschland said the European
Central Bank will lift forecasts for inflation and economic
growth. The yen and Swiss franc advanced against the dollar as a
slump in Chinese stocks pushed investors to exit so-called carry
trades in which they buy higher-yielding assets funded by loans
in Japan and Switzerland.
Read more at Bloomberg Currencies News
versus the dollar on speculation inflation will accelerate in
Europe, forcing policy makers to push interest rates higher
through the rest of this year.
The euro rallied the most in almost three weeks against the
dollar after Financial Times Deutschland said the European
Central Bank will lift forecasts for inflation and economic
growth. The yen and Swiss franc advanced against the dollar as a
slump in Chinese stocks pushed investors to exit so-called carry
trades in which they buy higher-yielding assets funded by loans
in Japan and Switzerland.
Read more at Bloomberg Currencies News
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