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The euro moved up one per cent to $1.2788 and jumped one per cent to 98.18 yen, making positive movement against its two major peers, reports Bloomberg.
Until today's positive news, the 17-nation currency had hit an 11-year low against the resurgent yen.
Brian Kim, a currency strategist in Stamford at Royal Bank of Scotland, said the recent auction results had been promising despite the generally gloomy atmosphere.
"There's a lot of funding needs in Europe, so it does give a little boost of confidence. You had some decent data out of China and that was supportive for risk overall," he added.
Reuters noted that a major factor in the euro's low against the yen was the decision from Standard and Poor's to downgrade nine European countries' credit ratings.
Posted by Greg Secker
