FXstreet.com (Barcelona) - European stock markets have opened on a slight sell tone on Wednesday, while corporate earnings season continues showing fairly positive figures. Euro and Yen remain in range, while the Pound soars.
Eurostoxx 50 Index trades 0.1% lower, while the German DAX index drops 0.2% and the French CAC inIndex declines 0.3%. In the UK, the FTSE Index trades practically at opening levels.
The Bank of England released the minutes of October's meeting, and affirmed that tne committee voted unanimously to maintain Bank rate at 0.5% as well as bond buying program atGBP175billion.
Deutsche Bank has released its third quarterly earnings, the bank posted profits three times larger than those in the same period last year. The financial sector has been favoured, although Deutsche Bank's shares fell 3.9%.
Pound soars, Euro stays in range
GBP/USD has broken above 1.6500 on the back of BoE minutes and rebound at 1.6345 has extended to 1.6590 high so far. At the moment, the Pound remains at session high levels ready to set an assault to 1.6000 any time.
EUR/USD reacted upwards after hitting 1.4888 low during Asian session, and the pair rallied to 1.4965 high during early European trade, to ease afterwards to levels around 1.4935.
USD/JPY remains moving in a range from 90.60 t0 91.00. A dip to 90.48 low was followed by a rally to test 91.00 although so far, 91.00 level remains intact.