Market News

Euro rallies

The Euro rallied to a near one month high reaching 1.2748 as a European Official said that ‘a politically acceptable path will be sought for renegotiating Greece’s bailout conditions’. Also helping the shared currency higher was Spain’s debt auction where the nation sold its maximum target of 1 year & 18 month bonds. However the yield on their 10 year remained above the unsustainable 7.0% level improving slightly from 7.16% to 7.04%.