Euro bounces on sovereign buys; debt woes linger

The euro trimmed losses against the dollar on Monday, helped by East-European and Latin-American demand but hampered by uncertainty about how the euro zone would deal with its debt problems.

Trading volumes were reduced by the approach of the year-end, while few investors were willing to take on big positions before a Federal Reserve meeting this week and a European Union summit on Thursday and Friday.

Further selling in Treasuries pushed the benchmark 10-year U.S. yield to a six-month high, supporting the dollar on the view that rising yields would make U.S. assets more attractive.

Read Full Article from Reuters

- Posted: 2010-12-13 08:29:54

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