Euro falls on ECB rumours

New York: The euro fell against the dollar for the first day in four on speculation the European Central Bank will signal its currency’s 22% surge in the past year threatens the region’s economic recovery.

ECB President Jean-Claude Trichet may express concern about the euro’s strength at a press conference after the central bank’s monthly meeting on interest rates tomorrow in Frankfurt, according to a survey of economists by Bloomberg News.

“The pressure on Europe is overwhelming,” said Milton Ezrati, senior strategist at Lord Abbett & Co in Jersey City, New Jersey, with about $71 billion in assets. “They cannot tolerate much more euro appreciation, and may sell the currency to stem its rise.”