Euro May Have Peaked as Periphery-Nation Bond Yields Rise, BNY Mellon Says

The euro’s rally against the dollar from a four-year low in June may have come to an end as bond yields in so-called periphery euro-area nations rise, Bank of New York Mellon Corp. said.

“There are clearly issues to be resolved as far as the euro zone’s debt problems are concerned,”Neil Mellor, a currency strategist in London, wrote in an e-mailed investor note today. It would be “remiss to ignore the possibility that we have seen the peak in euro-dollar for the time being,” he said.

The euro fell 0.2 percent to $1.2840 as of 10:29 a.m. in London.

To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net

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