The dollar jumped against the euro Thursday, and at the same time as the 17-nation shared currency hanged about under stress versus the Japanese yen after Italy saw borrowing costs drop back from euro-era highs in its last bond sale of 2011.
In late North American trading Wednesday, the euro modified hands at $1.2887 EURUSD -0.45% , low from $1.2938, and plunged 0.2% to trade at 1.2882 yen EURJPY -0.65% .
Risk-oriented currencies were not successful to get shore up after Italian authorities sold a total of 7.01 billion Euros of a range of government bonds, declining short of the top of a target range of €8.5 billion.
The yield in a sale of 10-year bonds reported the fall of 6.98% from a euro-era high glowing above 7% in an auction in November.
Boris Schlossberg, director of currency research at GFT said “Overall today’s Italian auction data show that the world’s third-largest bond market remains under stress but may be slowly receding from the panic levels recorded in November.”
A lift up in threat craving in premature U.S. trading could help out activate a short-covering convention, Schlossberg said, but he warned that foreign-exchange bears could put forth bright pressure if equities turn negative.
U.S. economic data on beat for Thursday take account of weekly jobless claims at 8:30 a.m. Eastern, go behind by the Chicago region purchasing managers index and data on pending home sales.
In general, the U.S. dollar was higher, with the dollar index DXY +0.24%, which is a measure of the currency against six rival units, ranking recently at 80.743, up from 80.526 late Wednesday.
The British pound GBPUSD -0.35% declined to $1.5371 from $1.5455.
Against the yen, the dollar USDJPY -0.24% moved down to ¥77.77 from ¥77.95.