EUR/USD Higher After Mediocre US Treasury Auction

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EUR/USD Higher After Mediocre US Treasury Auction

By Greg Michalowski on March 25, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The 5 year note auction of 34B came in with a 2.02 bid to cover ratio (the number of bids were 2.02 times the amount auctioned). This was down from the 2.21 from the prior 5 yr auction and 2.18 over that last 10 auctions. The weaker auction has helped push the EUR/USD back up after touching the support at the 1.3515 level.

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