TOKYO: The euro rose against major currencies in Asian trade Friday, helped by a successful Spanish bond auction, as market players began turning their attention to the forthcoming holidays, dealers said.
The euro stood at $1.3037 and 101.49 yen in Asian trade, up from $1.3017 and 101.41 yen in New York Thursday.
The dollar bought 77.84 yen, easing from 77.89 yen in New York.
"The market will be gradually shifting to holiday season mode, with position squaring likely to dominate activity," Kengo Suzuki, forex strategist at Mizuho Securities, told Dow Jones Newswires.
The lack of bad news over the European debt crisis and solid Spanish bond auction results Thursday have helped ease risk concerns, dealers said.
Spain enjoyed a bumper bond sale on Thursday, raising nearly twice the amount it had hoped for as it snatched the chance to lock in competitive borrowing rates in the swirling eurozone debt crisis.
Spain's treasury raised 6.0 billion euros ($7.8 billion) -- far above its 2.5-3.5 billion euro target -- in the closely watched auction, the Bank of Spain said.
Investors made bids for a combined total 11.234 billion euros of the four-, nine-, and 10-year bonds, more than three times the original maximum target.
Strong US data, including new jobless claims that hit a three-year low last week, also helped calm nerves, dealers said.
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