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Dollar rises vs euro as Spain borrowing costs rise

Dollar rises vs euro as Spain borrowing costs rise

Rising borrowing costs in Spain are pushing the dollar higher against the euro. The dollar hit a one-month low against the Japanese yen after the Bank of Japan said it would leave its key interest rate unchanged.
The yield on Spain's benchmark 10-year bond jumped above 5.9 percent Tuesday, the highest point since November. The rate was below 4.9 percent in early March. Rising yields are a sign that investors are less confident in the country's finances.
The euro is trading at $1.3071 Tuesday afternoon. It was worth $1.3116 late Monday.
The dollar fell as low as 80.79 Tuesday, its lowest point since March 7. It was worth 81.66 yen late Monday. The Bank of Japan also said Tuesday that the economy is showing signs of improvement.


Updated : 2021-10-26 06:10 GMT+08:00