June 6, 2018 / 6:58 AM / 5 months ago

Euro hits 10-day high, bond yields rise after ECB's Praet comments

LONDON (Reuters) - The euro jumped to a 10-day high versus the dollar and bond yields across the single currency bloc rose on Wednesday after upbeat comments from the European Central Bank’s chief economist.

FILE PHOTO: Presentation of a new 2 Euro commemorative coin of former German Chancellor Helmut Schmidt in Berlin, Germany, February 2, 2018. REUTERS/Christian Mang

In remarks that come ahead of next week’s closely-watched meeting, Peter Praet said the underlying strength of the euro area economy persists and that inflation expectations are increasingly consistent with the bank’s aim.

The euro hit a 10-day high versus the dollar at $1.17525 EUR=EBS, while government bond yields in the bloc extended their rise.

Germany’s benchmark 10-year Bund yield was up 4.3 basis points at 0.41 percent DE10YT=RR.

Reporting by Dhara Ranasinghe and Tom Finn

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