NEW YORK Dec 10 The euro rose to session highs
against the dollar on Monday as Italian borrowing costs slipped
from a three-week high and bids on safe-haven German bunds eased
The euro had been under pressure for most of the global
session as Italy's Prime Minister Mario Monti announced he would
resign after the budget passes, creating an uncertain political
outlook for the euro zone's third largest economy.
There was no fundamental news that spurred this latest move
in the euro and traders said this was likely technical buying
more than anything else. A breach of resistance at $1.2940 in
the euro prompted more buying.
Italian yields were last at 4.81 percent. They rose as high
as 4.83 percent. Meanwhile, German 10-year yields edged up to
The euro rose as high as $1.2945. It was last at
$1.2934, up 0.1 percent on the day.