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June 06, 2018

Euro hits 10-day high, bond yields rise after ECB’s Praet comments

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FILE PHOTO: Presentation of a new 2 Euro commemorative coin of former German Chancellor Helmut Schmidt in Berlin, Germany, February 2, 2018. REUTERS/Christian Mang

LONDON (Reuters) – The euro jumped to a 10-day high versus the dollar and bond yields across the single currency bloc rose on Wednesday after upbeat comments from the European Central Bank’s chief economist.

In remarks that come ahead of next week’s closely-watched meeting, Peter Praet said the underlying strength of the euro area economy persists and that inflation expectations are increasingly consistent with the bank’s aim.

The euro hit a 10-day high versus the dollar at $1.17525 (EUR=EBS), while government bond yields in the bloc extended their rise.

Germany’s benchmark 10-year Bund yield was up 4.3 basis points at 0.41 percent (DE10YT=RR).

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