Euro strengthens as Spain’s borrowing costs decline

Forint Gains

The Hungarian forint gained versus 31 major peers after the minister in charge of aid talks with the International Monetary Fund, Mihaly Varga, said the currency should be stabilized in a stronger range, according to the commercial television broadcaster HirTV. The forint rose 1.3 percent to 219.08 per dollar and appreciated as much as 1.4 percent, its biggest intraday increase since Nov. 19.

Scandinavian currencies rose versus the greenback as investors sought riskier assets. The Norwegian krone gained against most major main peers, climbing as much as 0.7 percent before trading up 0.3 percent at 5.5565 per dollar. Sweden’s krona added 0.2 percent to 6.4926 to the greenback, and the Danish krone rose 0.4 percent to 5.5906.

Stocks rose, with the Standard & Poor’s 500 Index advancing 0.6 percent.

Aussie Drops

Australia’s dollar slid versus most major counterparts after a report showed employers in the country unexpectedly cut payrolls last month, adding to concern the domestic economy is slowing. Employment fell by 5,500 in December, compared with economist estimates for a 4,000-job increase.

The Aussie declined 0.4 percent to $1.0535. It climbed 1.4 percent to 94.71 yen.

Europe’s shared currency strengthened as Spain sold 2.409 billion euros of 3.75 percent 2015 notes at an average yield of 2.713 percent, down from 3.358 percent at the previous sale in December. It also auctioned securities maturing in 2018 and 2041 at lower yields.

The euro rose 2.2 percent over the past three months in a basket of 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes. The dollar added 0.2 percent, and the yen tumbled 13 percent in the worst performance.

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