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On Tuesday, the euro broke his three-day losing streak, ending the day with growth despite unfavorable views to Eurozone
The single currency rose to $ 1.2481 from $ 1.2503.
Earlier in the day the euro reached a low at $ 1.2442 after it became clear that the borrowing costs of Spain and Italy have risen to record levels, respectively – 6.70% and 6.30%, the emission of 10-year Treasuries. Today we hold auctions for state bonds and German 10-year maturity, and two issues of Italian securities maturing after 6 and 12 months.
Despite the unfavorable data from the UK showing the largest decline in production from seven months ago, the pound rose against the dollar from 1.5484 to 1.5568.
The yen lost positions against major currencies after the International Monetary Fund supported the Bank of Japan in conducting serious “quantitative easing” to allow government to reach its target of inflation at 1% by 2014, the IMF encouraged the Japanese authorities to expand its program of buying assets and ability to intervene on the foreign exchange market to limit the growth of the national currency. Consequently, the pair EUR / JPY rose to 99.40 and USD / JPY – to 79.51.
