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RPT-Euro falls, Bunds rise on Spain funding worries
June 5, 2012 / 7:47 AM / 5 years ago

RPT-Euro falls, Bunds rise on Spain funding worries

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LONDON, June 5 (Reuters) - The euro fell to a session low against the dollar and Bund futures rose on Tuesday after Spain’s Treasury Minister, Cristobal Montoro, said financial markets were shut to Spain at current borrowing costs.

Spain will test the market on Thursday with an auction of 1-2 billion euros of medium-term and long-term bonds.

“We fell a lot yesterday , but uncertainty is still high and now we have these comments just before the auction on Thursday,” one bond trader said.

The euro reversed earlier gains against the dollar and hit a session low of $1.2442, according to EBS data. It earlier hit a one-week high of $1.2542.

Bund futures were last 28 ticks higher on the day at 146.06. (Reporting by Marius Zaharia and Jessica Mortimer, editing by Nigel Stephenson)

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