FXstreet.com (Barcelona) - European markets are going through gains on Thursday on improved risk appetite, after the Fed observed an improvement on the global economic outlook. Euro and Pound have moved up and down as they have dropped, after having reached intra-week highs, to the levels they were at the European opening.

Eurostoxx 50 index trades 2.0% above its opening level, while German Dax Index gains 2.14% and French CAC Index adds 1.63%. London FTSE is going through gains by 1.89%.

On the macroeconomic front, Euro Zone unemployment rate has continued climbing in April, reaching 8.7%, the highest level in more then three years. Euro Zone Consumer Prices Index has remained at record low in April, 0.6% up year on year.

Euro and Pound back and forth; Dollar, up against Yen

The Euro has risen to a fresh two-weeks high at 1.3385, to drop all the way to 1.3300 after Euro Zone unemployment data was released. At the moment, the Euro trades around 1.3325.

GBP/USD has risen from 1.4790 to a fresh two-week high at 1.4950 to drop later towards support level at 1.4850. At the moment the Pound trades around 1.4880.

USD/JPY has rallied above 100 pips during the European session and from 97.15 low has risen through resistance level at 98.00 t0 trade around 98.20 at the time of writing.

For more information, read our latest forex news.