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The euro surged versus the US dollar in reaction to successful Spanish and French debt auctions. Moreover, negotiations for Greece debt situation also created hopes among investors for the single currency. Spanish auction ended with higher demand and lower yields while France also saw higher demand for its medium term bonds since the its downgraded rating by Standard & Poor.

Research director, Kathleen Brooks from a well known forex site commented, “Markets love liquidity and this is reflected in a much better tone to risk sentiment as we get close to the end of the week, the successful French and Spanish bond auctions today should be expected since the ECB funding for banks relieves some pressure on Paris and Madrid to support their banks financially.”

The euro gained to 1.2942 against the US dollar on Thursday as compared to 1.2852 on Wednesday’s late trading hours. The e

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