on December 29, 2011 by admin in World, Comments (0)

WORLD FOREX: Euro Rebounds Slightly After US Data Feeds Risk Rally

NEW YORK -(Dow Jones)- Italy's mixed debt auction sent the euro tumbling to a 15-month low against the dollar Thursday, but the currency rebounded after encouraging U.S. data spurred an appetite for risk.

The euro zone's third largest economy, struggling to keep borrowing costs low and implement belt-tightening measures, sold three- to ten-year bonds. While the government paid sharply lower costs as compared to a similar auction last month, it raised less money than expected from the sale. Meanwhile, yields on Italy's benchmark 10-year bond remained close to 7%, a level that forced distressed euro zone countries to seek external ...

Article source: http://online.wsj.com/article/BT-CO-20111229-708599.html

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