Euro Races Lower Against Dollar And Yen Wednesday Morning, Wednesday, July 25, 2007 7:24:13 AM

The euro was generally weaker to other major currencies Wednesday morning in New York, dropping to multi-week lows against the yen and dollar while staying near a 5-month trough versus the sterling.

The euro raced lower against the dollar in early dealing Wednesday morning, dropping from record high in the previous session to a 2-week low. The euro fetched 1.3735 approaching mid-morning, down from an overnight level near 1.38. ahead of the National Association of Realtors report on June existing home sales

The euro stayed near a 5-month low against the sterling Wednesday morning in New York, slipping to .6690 from an overnight level near .671. Sterling investors looked ahead to Thursday`s release of nationwide housing prices for July.

The euro slipped to a 4-week low against the yen Wednesday morning in New York, dropping to 165 as traders considered data showing that the Japanese merchandise trade surplus grew better-than-expected in June.

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