Bloomberg News

Euro Weakens Against Yen as Spanish Borrowing Costs Rise at Sale

July 05, 2012

The euro stayed lower against the yen after Spanish borrowing costs rose at an auction.

The 17-nation shared currency was 0.4 percent weaker at 99.71 yen as of 9:47 a.m. London time, and was little changed at $1.2514.

Spain sold 3 billion euros of bonds, the Bank of Spain said, meeting the maximum target for the sale. The Treasury sold its 10-year benchmark bond at an average yield of 6.43 percent, compared with 6.044 percent when the securities were last sold on June 7.

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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