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Euro Stays Lower Versus Dollar, Yen After Spanish Debt Sale

The euro stayed weaker against the dollar and yen after Spain sold 2.2 billion euros ($2.8 billion) of debt at an auction.

The 17-nation common currency traded 0.4 percent weaker at $1.2660 as of 9:55 a.m. London time. It slipped 0.2 percent to 100.91 yen.

Spain sold 2.2 billion euros of debt maturing between 2014 and 2017, the Bank of Spain said, compared with a maximum target of 2 billion euros set for the auction.

The average yield on notes maturing in 2014 was 4.706 percent, compared with 2.069 percent when they were last sold in March. The average rate on 2015 bonds was 5.547 percent, compared with 4.876 percent in May and the 2017 yield was 6.072 percent compared with 4.96 percent last month.

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