Euro pounding the U.S. dollar

July 3, 2007

The dollar traded within a cent of a record low against the euro and the weakest in 26 years versus the British pound on speculation higher interest rates in Europe will lure investors away from U.S. assets. Central banks in England and the EU are expected to raise rates soon. With the dollar trading at $1.3627 to the euro, Tempus Consulting trader Mark Meadows expects "to see the euro-dollar test the record level this week."