Early trade in New York: euro slips to one-week low

The euro slipped to a near one-week low against the dollar on Wednesday after a muted German Bund auction raised concerns about demand for eurozone sovereign debt and the potential for higher borrowing costs for already troubled economies. While the German 10-year auction was an improvement on a similar debt sale in November, which had raised fears the bloc's debt crisis was spreading to its strongest economy, it was not enough to allay concerns.
The euro slid 0.9 percent to $1.2933, with a session low of $1.2896, according to Reuters data. Against the yen, the single currency was down 0.9 percent at 99.19 yen, holding above the decade low of 98.71 hit on electronic trading platform EBS in holiday-thin trade on Monday.