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Markets

Euro rises to session high, German bunds extend losses

LONDON: The euro rose to a session high against the dollar while German Bund futures extended losses on Thursday after E
06 Oct 2011

euroLONDON: The euro rose to a session high against the dollar while German Bund futures extended losses on Thursday after European Commission President Jose Manuel Barroso said policymakers are proposing coordinated action to recapitalise the region's banks.

The common currency rose to a session high of $1.3399 from $1.3343 beforehand, and up 0.4 percent on the day. Stops were cited above $1.3420 and traders were cautious about more gains ahead of an ECB rate decision due later in the day.

Bund futures extended losses, to hit a session low of 136.46, down 60 ticks on the day.

Copyright Reuters, 2011