Euro falls, Bunds reverse losses, traders cite Merkel report

Christopherfx

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The euro fell to a session low against the dollar and German Bund futures reversed earlier losses on Thursday with traders citing a media report that quoted German Chancellor Angela Merkel as saying she could not be sure the European project would work.

The euro fell 0.3 percent on the day to a session low of $1.2250 on trading platform EBS.

German Bund futures turned positive on the day to trade 14 ticks higher at 145.26, having fallen as low as 144.83 earlier in the session before a German bond auction.

"The fact she just said it before the auction is giving Bunds a bit of a bid on the back of it," a bond trader said.

Five other currency and bond traders cited the same report as driving factor behind the currency and bond moves.

reuters
 
 
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