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European shares slip 2 LONDON
Published in Saudi Press Agency on 10 - 02 - 2005

week high against the euro at around $1.31 and changed hands for around 104.85 yen as dealers zoomed in on the U.S. currency's superior yield potential and underlying economic support.
The Australian dollar tumbled across the board after data showed the country's economy almost grinding to a halt in the final quarter of 2004, weakening the case for more monetary tightening after the Reserve Bank of Australia hiked interest rates for the first time in over a year.
Government bond traders were nervous about what Greenspan might say as German Bund futures slipped to a three-month low after a break through key technical support sparked further selling and after the Netherlands said it was mulling the sale of a 30-year bond.
The benchmark 10-year euro zone government bond yield traded at around 3.78 percent -- a three-month high.
Yields on comparable 10-year U.S. Treasuries traded near a three-month peak of around 4.40 percent.
Shares on Wall Street were expected to open lower, led down by technology stocks after profit warnings from TIBCO Software and business software maker Verity. --More 1810 Local Time 1510 GMT


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