Reuters: US Dollar Report: RPT-Spanish yields rise, euro falls after Spanish bond auction

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RPT-Spanish yields rise, euro falls after Spanish bond auction Jul 19th 2012, 09:08 Thu Jul 19, 2012 5:08am EDT LONDON, July 19 (Reuters) - Spanish government bond prices and the euro fell, while European stocks trimmed gains, after a bond auction on Thursday at which Spanish borrowing costs rose. Spain sold 2.98 billion euros of two-, five-, and seven-year debt, near the upper end of its target range, with average yields rising across the board compared to previous auctions. Ten-year Spanish government bond yields extended a rise that had begun even before the auction and were last up 7.3 basis points at 7.03 percent. Five-year yields were up 10 bps at 6.44 percent. German Bund futures pared some losses after the sale, and last stood down 11 ticks at 145.23. The euro fell to a session low of $1.2263 on the EBS trading platform, down from around $1.2283 before the Spanish auction. The FTSEurofirst 300 index of top European shares trimmed gains and was up 0.2 percent at 1,056.12 points by 0852 GMT. Spain's IBEX turned negative and was down 0.2 percent.

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