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- American focus: the euro rose
American focus: the euro rose
The euro rose against the dollar and the yen, after a five-day decline against the backdrop of a member of the Board of the ECB statement on the provision of the European Fund for Saving the banking license.
Also, the single currency has strengthened against most of the 16 most traded currencies, as the profitability of Spanish and Italian bonds fell against the backdrop of optimism, as the European Stability Fund will help to curb the debt crisis in the region. Yield of 10-year bond fell to Spain's 25 basis points to 7.38% level, while the Italian has declined by 15 basis points to 6.45%. The euro rose against the dollar after data showed that sales of new U.S. homes unexpectedly fell in June. The pound fell sharply against the dollar, which was caused by the publication of data on GDP, according to which the UK economy is shrinking the third consecutive quarter.
The Canadian dollar has appreciated significantly during the day against the dollar, updating the previous day at least, that was caused by weak data from USA.
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