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.
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.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.64%||3.64%|
|15 yr fixed||2.76%||2.76%|
|30 yr refi||3.66%||3.69%|
|15 yr refi||2.79%||2.81%|
Today's featured rates:
Coke debuted limited edition "proud to be an American" cans in collaboration with the USO. More
The FBI has opened a national security investigation into the hacking of Bangladesh's central bank amid signs that the hack might have come from North Korea. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
The gender pay gap in the labor market is pretty well documented. But the gender gap also exists in the housing market. More