FXstreet.com (Barcelona) - European markets are going through gains above 1% on Monday, on improved investors' optimism despite weaker than expected earnings by Bank of America and General Electric. The Dollar is weakening against Euro and Yen.
Eurostoxx 50 Index trades 1.15% up, while German DAX Index adds 1.10%, and the French CAC Index advances 1.05%. In the UK, the FTSE Index trades 1.05% up.
In absence of key macroeconomic data, Autos were leading gains, together with and basic resources shares, which have been boosted by higher commodity prices.
Euro and Yen advance against Dollar
EUR/USD bounced at 1.4825 low on Asian session, and the pair has gathered strength to rally about 125 pips higher to session high at 1.4945 on European trade approaching October 15 and 16 high at 1.4965.
USD/JPY has retreated further from Friday's high at 91.30, and the Dollar fell from Asian session high at 91.10, to 90.35 low. At the moment of writing, the Dollar trades at 90.60.
GBP/USD remains trading in a range below 1.6400 high. The Pound has tested support at 1.6240/50 area and trades at levels right below 1.6300.