Spain debt sales more than expectation causes Euro stays stronger against Dollar and Yen. Euro maintain its higher position against Dollar and Yen after Spain debt sales managed to exceed the expectation. Details!!!!!
Euro Stays Stronger Against Dollar, Yen After Spanish Debt Sale
The euro stayed higher against the dollar and yen after Spain sold more than its maximum target at a debt sale.
The euro was 0.2 percent stronger at $1.3147 at 9:46 a.m. London time. It advanced 0.5 percent to 107.14 yen.
Spain sold 2.54 billion euros of two-year and 10-year bonds, compared with a maximum target of 2.5 billion euros.
Demand for the 10-year debt was 2.42 times the amount sold, compared with 2.17 at the Jan. 19 sale, and the bid-to-cover for the bonds maturing in October 2014 was 3.28. (David Goodman – Bloomberg)