Euro pares losses as Greece opens bond sale

The Euro regained some lost ground today as Greece went to market with a successful sale of 10-year bonds.

At midday the euro eased 0.1% to $1.3682, off an earlier low of $1.3634 although  below the previous day's two-week high of $1.3736. Petros Christadoulou, head of the Greek debt management agency, told Reuters the government had initially received bids for €7bn of bonds, well above the €5bn initially sought. The bond offering came a day after €4.8bn in new taxes and cutbacks were announced by the Greek government. The Finance Ministry announced it mandated Barclays Capital, HSBC Holdings, National Bank of Greece, Nomura and Piraeus Bank to carry out the debt offering, with a new ma...