The euro pulled back slightly from its recent highs against the dollar and yen in early European deals on Thursday as the Spanish bond auction failed ease concerns about the country's long term outlook.
Reports suggested that Spain sold EUR 2.54 billion in 2 and 10-year bonds, just above the original EUR 2.5 billion target, with bid-to-cover ratio up to 2.42 from 2.17 in the prior auction. The 10-year benchmark yield rose to 5.74 percent from previous 5.40 percent and the 2-year yield rose to 3.46 percent versus 2.06 percent.
The euro is now worth 1.3130 against the dollar, down from a 2-day high of 1.3166 hit at 4:40 am ET.
Against the yen, the euro that reached a 9-day high of 107.37 at 4:40 am is currently worth 107.0.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.