BLBG:Euro Near 11-Month Low Versus Dollar Before Italian, German Auction Notes
The MSCI Asia Pacific Index (MXAP) of shares fell 0.6 percent and the Stoxx Europe 600 Index declined 0.5 percent.
Italy is scheduled to auction as much as 3 billion euros of debt maturing in 2016 today, while Germany plans to sell 5 billion euros of two-year notes. Spain will offer debt maturing in 2016, 2020, and 2021 tomorrow.
The euro weakened yesterday as German Chancellor Angela Merkel rejected increasing the upper limit of funding for Europe’s permanent bailout mechanism. Merkel told coalition lawmakers the 500 billion-euro cap on Europe’s planned permanent fund will stay in place, two officials with knowledge of the discussion said.
The Dollar Index, which IntercontinentalExchange Inc. uses to track the U.S. currency against those of six major trading partners, rose to 80.268 from 80.237 yesterday in New York.
To contact the reporters on this story: Monami Yui in Tokyo at myui1@bloomberg.net; Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
