RTTN:Euro Off Recent Highs Against Dollar And Yen After Spanish Bond Auction
Euro Off Recent Highs Against Dollar And Yen After Spanish Bond Auction
(RTTNews) - The euro pulled back slightly from its recent highs against the dollar and yen in early European deals on Thursday as the Spanish bond auction failed ease concerns about the country's long term outlook.
Reports suggested that Spain sold EUR 2.54 billion in 2 and 10-year bonds, just above the original EUR 2.5 billion target, with bid-to-cover ratio up to 2.42 from 2.17 in the prior auction. The 10-year benchmark yield rose to 5.74 percent from previous 5.40 percent and the 2-year yield rose to 3.46 percent versus 2.06 percent.
The euro is now worth 1.3130 against the dollar, down from a 2-day high of 1.3166 hit at 4:40 am ET.
Against the yen, the euro that reached a 9-day high of 107.37 at 4:40 am is currently worth 107.0.
