Spain & France Sell Debt, Euro Advances

The euro advanced today, extending the yesterday’s rally, after Spain and France auctioned debt and the result of the auction was considered a success.

Banco de España reported that it sold €3.75 billion of bonds, achieving its maximum target. The average yield on the five-year notes rose to 5.544 percent from 4.848 percent at the auction on November 3. France sold €1.57 billion of bonds. The average yield on the 10-year notes fell to 3.18 percent from 3.22 percent at the previous auction on November 3.

EUR/USD rose from 1.3444 to 1.3476 and EUR/JPY advanced from 104.35 to 104.79 as of 14:42 GMT today.

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