FXstreet.com (Barcelona) - European markets are going through losses on Monday on investors concern over corporative earnings pointing up to a further than expected recovery for global economy.

Eurostoxx 50 Index has lost 1.98% in Monday, while the German DAX Index dropped 2.33% and the French CAC Index declined 2.02. In London, the FTSE Index has lost 1.22%.

There was not any macroeconomic release on today's European session, and investors await earnings results from IBM and Bank of America to be published later on.

Euro and Pound weaken during European Session

The Pound has been the weakest performer on Monday's European session, GBP/USD has dropped from an opening price at 1.4785 to an intra-day low at 1.4535, and at the time of writing attempts to bounce up towards 1.4600.

EUR/USD has dropped from 1.3045 opening price to an intra-day low at 1.2945, a fresh one month low, and has bounced up slightly afterwards to levels around 1.2970.

USD/JPY has tried to break above 99.00 resistance level, although it has failed and, rejection from 99.10 has taken the pair down to a fresh intra-day low at 98.50. The pair remains right above the mentioned level at the minute.

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