MW:Treasurys, dollar gain as attention turns to Spain
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices and the U.S. dollar rose on Monday as the outcome of Greece's election offered only a brief respite and the market's attention turned to Spain, where yields rose above 7%. "A 'positive' election result has eased pressure on the EU authorities to make long-term radical changes to the European Union," said Kathleen Brooks, research director at Forex.com. "The market is not reducing its pressure on the euro-zone authorities to come up with comprehensive solution to this crisis." The euro EURUSD -0.64% turned down to $1.2616, from $1.2646 in late North American trade Friday. It topped $1.27 just after the Greek election results came out. The dollar index DXY +0.23% , which tracks the U.S. unit against six currencies, rose to 81.811 from 81.584. Yields on U.S. 10-year notes 10_YEAR -0.57% , which move inversely to prices, fell 2 basis points to 1.57%.
