Spanish auction, Chinese exports boost euro

The euro rose on Thursday for a third straight day as strong demand for Spanish bonds eased concern about the country's ability to finance its debt and a spike in Chinese exports boosted confidence on global growth.

Investors also breathed a sigh of relief after European Central Bank President Jean-Claude Trichet said three-momth emergency loans to banks would continue until September and when Germany's high court rejected efforts to block German guarantees for euro zone financial aid.

Traders said that added to momentum that's been building since the euro fell below $1.19 on Monday, its lowest level since early 2006. It was last up 1.1 percent to $1.2114 EUR=, headed for its best day against the dollar in two weeks.

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- Posted: 2010-06-10 11:34:21

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