Europe's single currency reached a 15-month low against the dollar following a French bond auction this morning which saw almost all of the €8bn of debt targeted being sold.
The euro sunk to 1.2830 against the dollar and also hit an 11-year low against the yen ahead of the auction. French yields rose following the auction which saw €7.963bn of debt sold. It was hoped a successful auction would boost investors' confidence in France, which has been subject to speculation it will lose its AAA-rating imminently. The yield on 10-year bonds rose to 3.29%, up from 3.18% before the auction. Ten-year bonds have fallen on each of the past six days, pushing yields as high as 3.37%, the most since 9 December, and were around 3.31% yesterday. They reached a high of 3....
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