Euro, bond yields slip on tepid European inflation data

November 30, 2017

Frankfurt (Nov 30)  The euro tumbled to an eight-day low and European benchmark bond yields slipped on Thursday after European inflation data printed below forecasts, supporting the European Central Bank's plan to remove stimulus only gradually.

Euro zone inflation rose by less than expected in November, highlighting that price growth remains weak in the bloc. The single currency fell to an eight-day low of $1.1809, down 0.3 percent on the day. It weakened 0.63 percent against sterling to 87.81 pence with hopes of a Brexit deal breakthrough propping up the British currency.

Euro zone bond yields fell after the inflation numbers, with Germany's benchmark 10-year Bund yield hitting a session low of 0.376 percent . It had hit a 2-week high at 0.407 percent in early trade.

Euro zone bank stocks lost their shine after the disappointing inflation data, falling back after a strong early rally.


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