Financial markets await ECB, BoE rate decisionsThis article was originally published in Dairy Markets
After rising for four straight days overall and hitting a seven-month peak against the yen and a six-week high versus the euro on Wednesday the dollar retreated on Thursday morning. The greenback was trading at $1 = ¥109.57 and €1 = $1.5431, compared with yesterday's highs of $1 = ¥109.89 and €1 = $1.5412. A fall in oil prices on Wednesday to a new three-month low raised hopes that economic growth would pick up and inflation subside. On Tuesday the Federal Reserve Bank held its Federal Funds rate at 2%.