From Bloomberg:The euro retreated the most in two months against the dollar, while oil reversed earlier gains, as European Central Bank President Jean-Claude Trichet dimmed prospects for an interest-rate increase. Most U.S. stocks fell and 10-year Treasuries dropped for a fourth day.
The euro slid 1.2 percent to $1.3647 at 11:53 a.m. in New York after tumbling as much as 1.4 percent. Two-year German bund yields sank 14 basis points to 1.35 percent. Brent crude, the benchmark grade for two-thirds of the world’s oil market, was little changed at $102.40 after earlier reaching the highest price in 28 months. The Standard & Poor’s 500 Index fell 0.1 percent while the 10-year Treasury yield rose 3 basis points.
The shared European currency extended losses as Trichet said risks from rising prices are “broadly balanced,” causing investors to pare bets on an increase in borrowing costs even after euro-area inflation accelerated the most in two years in January......read on
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