Bloomberg: Euro Pares Losses After Trichet Says ECB Ready to Start Raising Rates

Nov. 18 (Bloomberg) — The euro pared its losses against
the dollar after European Central Bank President Jean Claude
Trichet said the central bank is ready to raise interest rates,
after holding its key rate at 2 percent since 2003.

The euro traded at $1.1711 at 8:55 a.m. in

New York, from
$1.1750 late yesterday, according to electronic foreign-exchange
system EBS. It was little changed against the yen at 139.62.
Earlier today the euro traded as low as $1.1757 and 139.09 yen.

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