FXstreet.com (Barcelona) - US stock markets have opened the week with gains ahead of the release of Treasury Department's toxic assets flush plan. The Dollar has strengthened against Pound, Euro and Yen.
Wall street is going through gains above 3% after the first hour of trading, with Dow Jones 3.64% up and the Nasdaq Index 3.28% up.
On the macroeconomic front, existing home sales have increased 5.1% in February to 4.72 million units; slightly above the 4.48 million advanced by the market consensus.
Dollar strengthens across the board
The U.S Dollar has gained some ground against most majors recovering from low levels reached on Friday. USD/JPY has reached past 97.10 resistance level, on recovery from intra-day low at 95.65 reached during today's European session.
EUR/USD has dropped from above 1.3615 ahead of t6the U.S. session opening to a intra-day low at 1.3485, although the Euro is recovering slightly, reaching above 1.3535.
The Sterling has been unable to hold above 1.4600 and it has dropped about 100 pips on early U.S. session to levels around 1.4500.