Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Euro rises as concern cools

By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- The euro pared gains against the dollar Thursday, as debt concerns sparked in the previous session abated after Spain held a strong bond auction.

What prices are doing: The dollar fell 0.2% against the euro to $1.2389, and it also lost about 0.2% on the British pound to $1.4818.

dollar_vs_euro.png
Click the chart for current foreign exchange rates.

The greenback dropped 0.5% against the Japanese yen at ¥91.98.

What's moving the market: On Wednesday, a report in Spanish newspaper El Economista that said the International Monetary Fund, the European Union and the U.S. Treasury are preparing a $308 billion bailout for debt-strapped Spain.

The rumor refueled worries about Europe's fiscal crisis, but the report was later denied.

What analysts are saying: Investors were cheered further when Spain announced that its sale of 10-year and 30-year bonds had been met with ample demand.

But the sovereign debt problems facing many European economies remains a concern, notes Camilla Sutton, a currency strategist at Scotia Capital.

"The Spanish debt auction was strong, easing some fears," she said. "However we still find the elevated Southern European yields concerning." To top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed3.90%4.01%
15 yr fixed3.01%3.13%
5/1 ARM3.19%3.26%
30 yr refi3.98%4.12%
15 yr refi3.08%3.23%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 17,689.86 -56.12 -0.32%
Nasdaq 5,128.28 -0.50 -0.01%
S&P 500 2,103.84 -4.79 -0.23%
Treasuries 2.20 -0.06 -2.78%
Data as of 7:09pm ET
Company Price Change % Change
Bank of America Corp... 17.88 -0.25 -1.38%
Micron Technology In... 18.51 -1.39 -6.98%
Facebook Inc 94.01 -1.20 -1.26%
Apple Inc 121.30 -1.07 -0.87%
Frontier Communicati... 4.72 0.09 1.94%
Data as of Jul 31

Sections

Some families are outraged at the sums they've been offered by Lufthansa as compensation for the Germanwings plane crash in March which killed 150 people. More

The U.S. economy has had pretty ho-hum start to 2015. But the stage is set for a strong second half of the year. More

Fast-food chains that operate in more than 30 locations nationwide are the sole target of a new rule in New York to hike their minimum wage to $15. But consumers and small business owners, as well as some employees, may be the ones to pay the price. More

You can't blame it on the economy anymore. More Millennials now have jobs, but are still living at home. More