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Euro Declines on Concern Rate Increases May Damage Periphery

April 4 (Bloomberg) -- The euro fell against the majority of its most-traded peers on concern interest-rate increases by the European Central Bank will widen the divide between the region’s weakest and strongest economies.

The single European currency snapped a four-day advance against the dollar and a five-day gain versus the yen. The ECB will raise its benchmark interest rate to 1.25 percent on April 7, from a record-low 1 percent, according to all 57 economists in a Bloomberg News survey.

The euro fell 0.1 percent to $1.4219 and 119.53 yen, as of 8:14 a.m. in London. The yen was little changed at 84.05 per dollar.

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To contact the reporter on this story: Garth Theunissen in London at gtheunissen@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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