FXstreet.com (Barcelona) - European markets advance at a strong pace on Thursday on the back of Geithner's affirmations that banks stress test conclusions have been more positive than expected. Euro and Pound have risen on European session.
Eurostoxx 50 Index adds 1.75%, while German DAX Index rises 1.71% and the French CAC trades 1.90% above its opening level. In England, London FTSE Index rises 2.25%.
On the macroeconomic side, German Factory orders jumped unexpectedly in March; 3.3% up against a 0.5% decline forecasted by market experts.
Euro and pound appreciate; Yen weakens
EUR/USD has appreciated during European session, after bouncing at 1.3250 intra-day low, the Euro has risen to levels above 1.3300 reaching intra-day high at 1.3344 after the release of German factory orders.
GBP/USD has jumped from 1.5070 low on early European session breaking 1.5165 resistance level, to reach a new 4 month high at 1.5195: At the moment the pair trades at 1.5155 level ahead of the BoE monetary policy decision.
USD/JPY has rallied during European trading times from 98.40 low to 9945 high, to pull back later to levels around 99.20.
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