BLBG:Euro Advances Against Dollar as Yields Fall at Italy Bill Sale; Yen Climbs
The euro strengthened against the dollar as borrowing costs fell at a sale of Italian bills.
The 17-nation currency appreciated 0.2 percent to $1.3140 at 10:11 a.m. London time.
Italy auctioned 182-day bills at a yield of 1.969 percent, down from 3.251 percent at a sale of similar maturity securities on Dec. 28.
European Union Economic and Monetary Affairs Commissioner Olli Rehn said authorities are “very close” to reaching an agreement on private-sector involvement in Greece.
The yen advanced against all 16 of its major peers, climbing 0.6 percent against the dollar to 76.96.
The U.S. economy expanded at a 3 percent annual rate last quarter after advancing 1.8 percent in the previous three months, according to a Bloomberg News survey before today’s Commerce Department report.
The Dollar Index, which tracks the U.S. currency against those of six trading partners, declined 0.3 percent, falling for the third straight day.
To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
