FXstreet.com (Barcelona) - Risk appetite remains driving stock markets higher at the beginning of the week: European stock markets have followed Asia and have started the session on strong note. Euro and Pound consolidate, while the Yen drops to its lowest levels in 5 months.
Eurostoxx 50 index gains 1.70% one hour after the opening, while German DAX Index adds 1.22%, and French CAC Index rises 1.72%. London FTSE Index rises 1.22%.
Regarding Currencies, the Yen continues weakening against most majors; USD/JPY has risen well above 100.00 and reached 101.35 resistance level on early European session. EUR/JPY has risen from 135.10 opening level to levels around 137.50 at early European session, while the GBP/JPY has moved from a session low of around 148.30, reaching 151.40 at the time of writing.
EUR/USD has found resistance at 1.3585 on its rally from 1.3480 opening price. At the moment the Euro consolidates above 1.3515.
GBP/USD consolidates between 1.4900 and 1.4950 after having opened the week at levels around 1.4835.