Euro slips over speculation on ECB rates

THE euro weakened against most major counterparts on speculation the European Central Bank (ECB) has finished raising rates as the region’s sovereign-debt crisis curbs economic growth.

The yen rose versus 12 of its 16 major peers as US consumer confidence dropped to the lowest since April 2009 and home prices fell, adding to demand for safer assets.

The euro snapped a two-day gain versus the dollar after ECB president Jean-Claude Trichet said this week that the bank is reviewing its assessment of inflation risks, and data yesterday showed confidence in the region’s economy plunged. The ECB meets next week.