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Euro receives boost from Spanish debt auction

Spain 's bond sale yesterday has given the Euro its near biggest weekly gain in a year against the Dollar. Investors in the Euro have reacted well to Spain 's ability to raise 3.5 billion Euros increasing confidence in the fund-raising ability of Euro nations.

Greece 's credit rating downgraded

The Euro has fallen against the Yen and the Dollar as Greece 's credit rating has been downgraded to a non-investment rate.

Japanese Debt Levels under scrutiny

Japan 's debt levels are under scrutiny and being compared to those of Greece as the new Japanese Prime Minister claims Japanese ‘public finances have become the worst of any developed country'.

Australian Dollar Hits High

The New Zealand dollar was up almost half a percent at 0.73 against the US dollar whilst the Australian currency, which earlier hit a 14-month high of 0.90 against the dollar, crept back as dealers booked profits from the rise.

Dollar gains against the Yen

The dollar was stronger against major currencies this morning and reached a two-week high against the Japanese yen, whilst sterling was struck by reports that rates are to remain at rock-bottom levels.

Euro hits highest rate

The euro is trading at a 14-month high, reaching levels below 1.49 on broad-based dollar weakness.

Pound sterling increasing

The pound sterling has continued to outperform this morning due to speculation regarding M&A activity and rumours that the Bank of England will not be increasing quantitative easing in November.

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