Euro falls against dollar as Treasury yields rise amid talk of stimulus

Arabic and International

Economy News _ Baghdad

The euro hovered around its lowest level in two weeks against the US currency, which remained strong on Tuesday thanks to a slight rise in yields on US Treasuries while political uncertainty in Italy kept the single currency low.

US benchmark 10-year Treasury yields have risen from a three-year low, partly because Germany may abandon the principle of a balanced budget to boost spending, as well as more economic support.

The dollar index was steady at 98.385 after rising to a two-and-a-half week high of 98.40 earlier.

The euro also held steady at $ 1.1078, but not far from Friday’s low of $ 1.1066 on persistent concerns about political developments in Italy.

The strong dollar pushed the yuan to fall in foreign trade to touch a six-day low of 7.0770 yuan against the dollar earlier in the session.

Sterling fell 0.3 percent against the dollar to $ 1.2092 and the same rate against the euro to 91.55 pence in the latest trading.

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