Pursuits
Euro Falls From One-Week High Versus Dollar Amid Bets on ECB Cut
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The euro dropped from a one-week high against the dollar as the euro area’s jobless rate rose to a record in March and inflation slowed, adding to signs the region is struggling to emerge from recession.
The common currency fell versus most major peers amid bets the European Central Bank will lower its key interest rate when policy makers meet May 2. The Federal Reserve starts a two-day meeting today. The yen rose, paring a seventh straight monthly decline against the dollar, the longest losing streak since 2001. Norway’s krone dropped as retail sales stalled in March.