Euro dips, Bunds hit session high after ZEW data

Tue Nov 10, 2009 10:14am GMT
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LONDON, Nov 10 (Reuters) - The euro fell against the dollar while Bund futures hit a session high on Tuesday after a weaker-than-expected German investor sentiment survey.

German sentiment fell for the first time in three months to hit its lowest level since July, a leading survey by the Mannheim-based ZEW economic think tank showed. [ID:nBAE001724]

The euro edged into negative territory against the dollar EUR=, falling to around $1.4975 from $1.4996 just before the data.

Bund futures FGBLc1 hit a session high at 121.73 in the wake of the data, rising as much as 35 ticks from Monday's settlement close.

Bund yields, which trade inversely to prices, fell across the curve with the two-year EU2YT=RR down 4 basis points on the day at 1.232 percent and the 10-year EU10YT=RR down nearly 5 bps at 3.281 percent.

The December gilt future FLGZ9 turned positive on the data, hitting a session high of 116.99, 21 ticks up on the day, after being flat just before the figures were released.

(Reporting by London Markets Team)

 
 
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