EU FinMin Agree On ECB Supervising Bloc's Banks

EU FinMin Agree On ECB Supervising Bloc's Banks

For the 24 hours to 23:00 GMT, EUR rose 0.42% against the USD and closed at 1.3066.

The US Dollar weakened on news of more monetary easing from the Federal Reserve. Moreover, the US House of Representatives Speaker, John Boehner stated that “serious differences” remain with President, Barack Obama in talks to avert the steep tax hikes and budget cuts set for the new year.

Additionally, the Euro received support amid comments from Silvio Berlusconi, who said that he would withdraw as a candidate in Italy's coming election if outgoing Prime Minister, Mario Monti ran as the head of a “moderate” coalition.

On the other hand, in a bond auction, Italian Treasury sold the full-targeted amount of €6.5 billion worth of 12-month government bonds at an average yield of 1.456%, the lowest since March and down from 1.762% at a similar auction last month.