Euro Extends Advance Against Dollar After EFSF Sells $2.6 Billion of Bills

The euro extended an advance against the dollar and rose versus the yen after an auction of bills by the European Financial Stability Facility drew bids for 3.2 times the amount of securities sold.

The euro strengthened 0.3 percent to $1.3230 at 11:13 a.m. London time. It climbed 0.2 percent to 102.96 yen.

The EFSF sold 1.97 billion euros of 91-day bills at an average yield of 0.222 percent, the Bundesbank said.

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

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

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