Euro gets lift from report China will buy Portuguese debt

The euro gained against the dollar and bounced from all-time lows against the Swiss franc on Wednesday, boosted by a news report that China was ready to buy significant amounts of Portuguese sovereign debt.

The Jornal de Negocios daily reported China is looking to buy between 4 billion euros ($5.26 billion) and 5 billion euros of Portuguese sovereign debt to help the country ward off pressure in debt markets, though it gave no details of its sources. more

Dollar/yen slips to 3-week low, technicals look weak

The euro won a slight reprieve on Tuesday, though it was still dogged by worries over debt problems in the euro zone, while the dollar slipped to a three-week low against the yen after breaking below key chart levels.

Although the euro drew some support in skittish trade from hopes that Ireland will pass an austerity budget later in the day, it remained vulnerable with European policymakers bickering over how to tackle the region's debt crisis. more

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Euro gets lift from report China will buy Portuguese debt

Dollar/yen slips to 3-week low, technicals look weak

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