Euro Stays Lower Versus Dollar After Italy Sells Five-Year Notes

Nov. 14 (Bloomberg) -- The euro stayed lower against the yen and dollar after Italian borrowing costs increased as the nation sold 3 billion euros ($4.11 billion) of debt.

The euro dropped 0.7 percent to 105.35 yen at 10:16 a.m. London time, after rising 0.7 percent over the previous two days. The single currency declined 0.4 percent to $1.3704. The yen gained 0.4 percent to 76.91 per dollar.

Italy’s Rome-based Treasury sold notes maturing in September 2016 to yield 6.29 percent, the highest since June 1997 and up from 5.32 percent at the previous auction on Oct. 13.

To contact the editor responsible for this story: Nicholas Reynolds at nreynolds2@bloomberg.net