FXstreet.com (Barcelona) - European markets have opened Wednesday's session with gains, extending rally from the previous days, while Pound and Euro have bounced up after trading at recent lows, USD/JPY remains in range.
European markets continue buoyed by Banks shares; UBS Bank and Unicredit have posted considerable gains; Eurostoxx 50 added 1.20% in the first trading hours, while German DAX gains 1.50%.
On the macroeconomic front, jobless claims have surged at an unexpectedly fast pace in February, which has weighed on the Pound.
Euro and Pound post strong rebounds
EUR/USD has dropped to levels below 1.3000 although it is performing an strong rebound at the moment, having taken back some 60 pips, appproaching 1.3075 resistance area.
GBP/USD has dropped fast at the European session opening times reaching a fresh intra-week low at 1.3845 after worse tan expected labour market report in the UK. At the moment, the Pound advances above previous intra-week low at 1.3885 on the way to yesterday's low at 1.3965.
USD/JPY has risen above 90.50 at the Europeasession opening butthe pair has turned down at 98.78 towards 98.50 support. The Pair is neutral, and volatility is low.