Bloomberg is reporting Euro Falls the Most in 8 Years on Reduced Bets for Higher Rate . The euro fell the most in almost eight years, pushing the currency to a six-month low against the U.S. dollar, as traders pared bets the European Central Bank will raise interest rates as the economy slows. The euro dropped below $1.50 for the first time since February after ECB President Jean-Claude Trichet yesterday said economic growth will be "particularly weak'' through the third quarter. "We are now seeing a lot more negative surprises coming out of Europe than from the U.S., more so than any time during this credit shock," said Jim McCormick, head of currency strategy at Lehman Brothers Holdings Inc. in London. "At the same time, you've got some pretty strong capital inflows to the U.S. We kind of have the perfect circle of...
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