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6/5/06

Bloomberg.com: Euro Advances to 13-Month High; Trichet May Flag Higher Rates

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Euro Advances to 13-Month High; Trichet May Flag Higher Rates

une 5 (Bloomberg) -- The euro rose to its highest in more than a year against the dollar on speculation European Central Bank President Jean-Claude Trichet will today signal interest rates will rise, while Federal Reserve Chairman Ben S. Bernanke may suggest a pause for U.S. borrowing costs.

The two will speak alongside Bank of Japan Deputy Governor Toshiro Muto in Washington today. The euro has risen 9.3 percent this year against the dollar as European policy makers express concern about inflation and the Fed contends with signs U.S. growth is cooling. A U.S. economic report today may show service- industry expansion slowed in May.

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