Euro Erases Earlier Gains - 25.5.2012

The common currency fell to fresh lows against the US dollar due to concerns about Spain’s sovereign debt and that regional governments in Spain are facing difficulties to access capital markets. The 10-year bond yield rose to 6.29 per cent, advancing today by 13 basis points or increasing 0.13 per cent. The Euro against the greenback penetrated the previous support at the 1.2514 level and fell to new lows at 1.2495 level. Versus the Japanese Yen the Euro declined to the 99.46 level very close to make new lows.