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- European session: The euro weakened
European session: The euro weakened
Italy’s 10-year yield jumped to the most since 1997.
European producer-price inflation slowed to 5.9 percent from 6.2 percent in May, the European Union’s statistics office in Luxembourg said today. The result strengthened the case for the European Central Bank to keep interest rates unchanged this week.
Demand for the dollar was limited on concern an agreement between President Barack Obama and Congressional leaders on raising the debt ceiling and spending cuts will weigh on growth in the world’s biggest economy. The House approved legislation to raise the U.S. debt limit by at least $2.1 trillion and cut federal spending by $2.4 trillion or more. The measure goes to the Senate for a final vote planned today.
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