Euro sinks as Italian bond auction misses target
Dec 29th, 2011 | By | Category: AnalysisEuropean Central Bank reported to have helped prop up Italian bonds as auction fails to reach hoped-for figure of €8.5bn The euro sank to a 15-month low against the dollar on Thursday as the European Central Bank (ECB) reportedly stepped in to prop up Italian bonds following an auction that revived fears Italy may be unable to refinance its huge €1.9 trillion (£1.5tn) borrowings.
