Euro Weakens Against Yen as Spanish Borrowing Costs Rise at Sale

The euro stayed lower against the yen after Spanish borrowing costs rose at an auction.

The 17-nation shared currency was 0.4 percent weaker at 99.71 yen as of 9:47 a.m. London time, and was little changed at $1.2514.

Spain sold 3 billion euros of bonds, the Bank of Spain said, meeting the maximum target for the sale. The Treasury sold its 10-year benchmark bond at an average yield of 6.43 percent, compared with 6.044 percent when the securities were last sold on June 7.

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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