FXstreet.com (Barcelona) - European markets are going through gains after the first hours of trading, although they don't seem to share the optimism seen in Wall Street and Asia. The Pound is on the upside against the Dollar, and Euro and Yen remain little moved.
European markets are going through mild gains on Tuesday; Eurostoxx 50 adds 0.34%, while German DAX gains 0.43% and French CAC edges up 0.19% one hour after the opening times. Banks and insurance firms have been the main drivers of these modest gains
Pound rises on higher than expected inflation
The Pound has risen about 80 pips to a maximum of 1.4781 minutes after the release of the CPI figures for February, although the pair has setback slightly, testing resistance level at the 1.4735 area.
The Euro, after having remained above 1.3615 support level for the whole Asian trading session, has failed to hold , and fell some pips below it. Attempts to regain 1.3615 level have been unsuccessful so far, although the EUR/USD bias remains on the upside as long as it remains above 1.3490 support.
USD/JPY has remained consolidating between 98.00 and 98.40 after overnight's rally from 96.90.