July 3 (Bloomberg) -- The euro traded near the highest level in more than two months against the dollar on speculation the European Central Bank will signal it may keep raising interest rates after lifting borrowing costs today to combat inflation.
Europe's single currency climbed as policy makers boosted the refinancing rate 25 basis points to 4.25 percent, the highest since August 2001. ECB President Jean-Claude Trichet told Germany's Die Zeit newspaper yesterday there's a risk of inflation ``exploding.'
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All but one of 58 economists surveyed by Bloomberg News had expected policy makers to raise borrowing costs today.
- FT
- nytimes
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