Euro Falls From Six-Week High Versus Dollar on Outlook for ECB

The euro declined from near its strongest level in six weeks against the dollar on speculation the region’s central bank will keep interest rates at a record low as efforts to trim national budget deficits damp growth.

The euro weakened against 13 of its 16 most actively traded peers. The European Central Bank will leave rates unchanged at 1 percent when policy makers meet on July 8, according to all 55 economists in a Bloomberg survey. ECB President Jean-Claude Trichet yesterday pressed governments to trim deficits to improve consumer and investor confidence.