Euro slips on weak Portugal auction results

The euro slipped against the dollar yesterday after a weak auction of Portuguese debt highlighted the fragility of the euro zone banking sector ahead of European bank stress test results later in the week.

Portugal sold 1.25 billion euros in 12-month Treasury bills, but the average yield more than doubled from the previous sale, while the bid-to-cover ratio was much lower.

The euro hit the day's low after the auction, as traders booked profits on the single currency's rally to a 10-week high, while investors awaited testimony from Federal Reserve Chairman Ben Bernanke.

Editor's Comment
Closure as pain lingers

March 28 will go down as a day that Batswana will never forget because of the accident that occurred near Mmamatlakala in Limpopo, South Africa. The tragedy affected not only the grieving families but the nation at large. Batswana throughout the process stood behind the grieving families and the governments of Botswana and South Africa need much more than a pat on the back.Last Saturday was a day when family members said their last goodbyes to...

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