Euro Stays Stronger Against Dollar, Yen After Spanish Debt Sale

The euro stayed higher against the dollar and yen after Spain sold more than its maximum target at a debt sale.

The euro was 0.2 percent stronger at $1.3147 at 9:46 a.m. London time. It advanced 0.5 percent to 107.14 yen.

Spain sold 2.54 billion euros of two-year and 10-year bonds, compared with a maximum target of 2.5 billion euros.

Demand for the 10-year debt was 2.42 times the amount sold, compared with 2.17 at the Jan. 19 sale, and the bid-to-cover for the bonds maturing in October 2014 was 3.28.

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

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

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