FXstreeet.com (Barcelona) - European markets have opened the week with gains, as banks have advanced after Geithner assuring that the U.S. banking system is healthy. Euro and Pound have ticked slightly lower in European session so far, while the Yen seems to be taking ground back after yesterday's decline.
Eurostoxx 50 Index trades 0.50% higher while German DAX Xetra rises 0.40% and French CAC 40 trades 0.30% above its opening level. London FTSE Index trades 0.40% up.
On the macroeconomic respect, the BoE is about to release the minutes of its last monetary policy meeting and furthermore, UK Feb ILO unemployment figures will be known, as well as UK Public sector's net borrowing data from march.
Euro and Pound slightly lower
Euro and Pound have declined mildly in early European session. The EUR/USD has tested lowest territories on Early European session hitting intra-week low at 1.2885 after having remained trading above 1.2920 during the last 24 hours. At the time of writing, the Euro has returned above 1.2900.
The Pound's upward reaction from intra-week low at 1.4465 yesterday seems to have caped at 1.4700 so far, as the Pound continues weakening to give away most of the ground gained in yesterday's rally. At the moment, the Sterling trades around 1.4560; 0.70% below its day-opening price.
The Dollar has weakened slightly against the Yen during the Asian session, from a 98.95 high reached yesterday on early Asian session, the Dollar has dropped to a minimum level at 98.10, to pick up and reach 98.30 at the time of writing.
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