Dollar Falls to Record Low Versus Euro on Concern Subprime Losses to Mount

(Bloomberg) -- The dollar fell to a record low
versus the euro and headed for a sixth straight weekly drop as
concern increased that losses in subprime mortgages will worsen
a slowdown in U.S. housing and curb economic growth.

The currency also tumbled versus the yen as investors
exited riskier bets. Federal Reserve Chairman Ben S. Bernanke
said yesterday there will be ``significant financial losses'' on
mortgages given to people with poor credit histories.


Read more at Bloomberg Currencies News

Dollar Erases Gain Against Euro as Concern About U.S. Slowdown Increases

(Bloomberg) -- The dollar was little changed after
erasing a gain against the euro as concern increases that losses
in subprime mortgages will worsen a slowdown in the U.S. housing
market and curb economic growth.

The currency also pared its advance versus the yen as
investors avoided riskier assets and sought the safety of U.S.
government debt. Federal Reserve Chairman Ben S. Bernanke said
yesterday that losses on investments linked to mortgages given
to people with poor credit histories may total $100 billion.


Read more at Bloomberg Currencies News

Copper Gains on Speculation Global Economic Growth to Boost Metal Demand

(Bloomberg) -- Copper in New York gained the most
in more than two weeks on speculation that global economic
growth will increase demand for the metal used in homes, cars
and appliances.

China's economy in the second quarter expanded at the
fastest pace in 12 years, the statistics bureau said in Beijing
today. Federal Reserve Chairman Ben S. Bernanke said yesterday
U.S. growth will pick up ``a bit'' next year. The price of
copper has gained more than fourfold in the past four years as
worldwide demand outpaced production.


Read more at Bloomberg Commodities News

Zloty Advances as Investors' Appetite for Emerging Market Assets Returns

(Bloomberg) -- The Polish zloty rose as investors
regained their appetite for risk and bought emerging-market
stocks.

Poland's WIG 20 index saw its biggest gain in more than two
weeks and stocks in Hungary, the Czech Republic and Romania also
rose after Federal Reserve Chairman Ben S. Bernanke allayed
concern that a housing slump would brake U.S. economic growth.


Read more at Bloomberg Emerging Markets News

Treasuries Rise as Federal Reserve Trims Forecast for U.S. Economic Growth

(Bloomberg) -- Treasuries rose as the Federal
Reserve trimmed its forecast for U.S. economic growth this year
and next on weaker-than-anticipated home building, while keeping
its inflation projections unchanged.

Fed Chairman Ben S. Bernanke predicted in testimony before
Congress that U.S. economic growth will pick up slightly next
year and inflation will gradually recede.


Read more at Bloomberg Bonds News

Treasuries Are Little Changed on Report Showing Consumer Prices Edged Up

(Bloomberg) -- Treasuries were little changed as
consumer prices in June had the smallest gain in five months.

Benchmark 10-year note yields earlier dropped as Bear
Stearns Cos. told investors in its two failed hedge funds that
they will get little if any money back. Chairman Ben S. Bernanke
will testify today before a congressional committee on the
economy and monetary policy.


Read more at Bloomberg Bonds News