Euro Gains vs. Yen, Flat vs. Dollar

The euro gained today against the Japanese yen on positive results of a French debt auction and signs that the European Central Bank may take actions to battle the financial crisis. The currency was down against the US dollar.
France held an auction today, selling €7.84 billion of debt. Yesterday, the ECB held its main interest rate unchanged at 1.0 percent. Bank’s President Mario Draghi said at a press-conference after the policy decision:

We will monitor all developments closely and we will stand ready to act.

Such comments spurred hopes that the central bank will help eurozone countries with their debt problems. Yet today positive mood slowly wanes and the euro shows tendency to decline.
EUR/USD was down from 1.2582 to 1.2571 as of 10:55 GMT today. EUR/JPY traded at about 99.76 after it climbed from 99.66 to the daily maximum of 100.08.

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