FXstreet.com (Barcelona) - European stock markets continue posting gains on Monday on increased optimism ahead of the U.S. Treasury's plan to buy toxic assets from troubled banks. Euro and Pound remain in range unable to break through Friday's mid-term highs.
Banks and financials have been the largest gainers in the first hours of trading in Europe, Danske Bank and Mitsubishi Financial Group have added more than 4%, while Barclay's has gained 5.1%.
Eurostoxx 50 is going through gains by 1.93% in the first hours of trading, while German DAX adds 2.03% and French CAC 40 goes trough gains by 1.52%.
Euro and Pound right below Friday's mid-term highs
EUR/USD has been rejected at 1.3740 resistance level, and the reaction has taken the pair just pips above 1.3615 support level.
GBP/USD has attempted to break resistance level at 1.4600 but it has been unable to remain above there, and the pair has lost about 70 pips on its way towards 1.4495 support level.
USD/JPY has bounced at at 95.65 support level after its rejection from 96.60 resistance level, and has recovered all the lost ground to set a new assault to 96.60.