FXstreet.com (Barcelona) - European markets are going through losses at the opening as concerns about swine flu spread continue weighing on investors. In FX markets, Dollar and Yen tick higher.
Eurostoxx 4550 Index drops 2.19% and German DAX Xetra declines 2.31 while French CAC loses 2.11%. In London, FTSE Index trades 2.01 below its opening level at 8:00 GMT.
Companies trelated with travels and tourism continue posting losses, British Airways' shares dropped 2.3% as the outbreak of swine flu is expected to reduce air traffic, at lest in the short-term, while drug-makers are being bought on the back of the swine flu outbreak; GlaxoSmithKline's rose 1.3%.
Dollar higher against Pound and Euro, down against Yen
The Yen is rallying across the board favoured by its safe-haven condition and USD/JPY has reached low levels at 95.60, 5-weeks low. At the Moment, the Dollar is trying to push up in order to return above 95.95.
GBP/USD has lost all the gains posted on Monday and from 1.4695 high on yesterday's U.S. session, the Pound has dropped to 1.4515 support level (intra-week low) although, so far, the pair remains above there.
EUR/USD decline from 1.3300 high last Friday has reached levels below 1.30, hitting a intra-week low at 1.2980. At the moment the Euro is trying too pick up and struggles with the lower boundary of the 1.3035/5o0 resistance area.
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