Euro Strong vs. Dollar, Weak vs. Yen
The euro climbed against the US dollar today on optimism for the Greek bond-buyback program and the macroeconomic data, which was better than expected. At the same time, the shared 17-nation currency fell versus the Japanese yen.
The Greek Public Debt Management Agency said that it is going to spend €10 billion at the modified Dutch auction to buy back the government debt. The eurozone Producer Price Index was up 0.1 percent in October from September, while experts have predicted it to stall. Spain’s unemployment change was 74,300 in November, below the market expectations of 90,000 and the October’s rate of 128,200.
EUR/USD rose from 1.3051 to 1.3074 as of 10:34 GMT today and its daily maximum of 1.3080 was the highest since October 22. EUR/JPY traded at 107.16 after dropping from 107.33 to 106.90.
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Earlier News About the Euro:
- Angela Merkel's Comments Help Euro (2012-12-03)
- Euro Gains Ground on End of Month Flows (2012-11-30)
- Euro Heads Higher on Italian Yields, US Fiscal Cliff (2012-11-29)
- Euro Heads Lower as Focus Moves Off Greece to the Wider Eurozone (2012-11-27)
- Euro Posts Second Weekly Rally Despite Uncertainty About Greece (2012-11-24)