October 24, 2018 / 8:11 AM / a year ago

Euro, German bond yields drop as bloc's business momentum halts

LONDON, Oct 24 (Reuters) - The euro and euro zone government bond yields dropped on Wednesday after data showed that business growth in the single currency bloc lost far more momentum than expected as it entered the final quarter of the year.

The euro extended its losses, falling half a percent to $1.1417, its lowest since Aug. 20. It was already down about 0.4 percent after the German and French surveys had earlier on Wednesday missed expectations.

Germany’s 10-year bond yield dropped to the day’s low of 0.401 percent, down 1.5 bps on day, while other high-grade euro zone bond yields were also lower on the day. (Reporting by Abhinav Ramnarayan Editing by Tommy Wilkes)

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