The euro fell slightly against the U.S. dollar on Thursday as traders awaited interest rate decisions from the European Central Bank and the Bank of England, according to AP. The 15-nation euro bought US$1.5425 in morning European trading, down from US$1.5446 late Wednesday in New York. The British pound sank to US$1.9487 from US$1.9554 on Wednesday, while the dollar rose to purchase 106 Japanese yen from 105.26 in New York. The dollar strengthened just before meetings of the ECB and Bank of England, where both were expected to keep their interest rates unchanged. The dollar has been dragged down over recent months by the Fed's aggressive rate cuts as it tries to boost a faltering economy. Lower interest rates often weigh on a country's currency as investors transfer funds to higher-yielding assets.
