Euro  high in Asia

 

 

 The euro held near one-month high against the dollar in Asia before a Spanish yields drop and good housing data in the U.S. boosted market.


The best tonic around risk and the resulting jump in yields helped the U.S. dollar to a maximum of one month against the yen, which has been pressured by expectations of further stimulus by the Bank of Japan.

Against the yen, the euro rose to one-month high of 103.85 points, nearly matching the ceiling 103.858 four months of September, but the inability to break that level led to some profit taking.

In Europe, Spanish yields fell to a seven months bodes well for Thursday's debt auction, in which the Spanish Treasury expects to raise 4,500 million euros.
The focus will be on the EU summit in two days, starting on Thursday, although not foresee any major announcement regarding Spain as the central theme will be the creation of a single banking supervisor and integration in the euro zone.

Chinese indicators released Thursday were in line with expectations or above. The third quarter GDP was 7.4 percent year on year, coinciding with a Reuters poll.