European Stocks Rebound as the Euro and Sterling Sag

Eurozone stock markets have move up from lows, as the FTSE extends gains. The FTSE 100 is now up nearly 0.5%, benefiting from the drop back in Sterling from recent highs. The EUR is also down against the Dollar, which is helping Eurozone markets to move up from early lows and, which were seen after a largely softer session in Asia, where China and Taiwan remained closed for a holiday and Japanese markets were hit by the stronger Yen, which undermined exporters. Soft inflation continues to weigh on the Euro. The RBA’s decision to keep policy unchanged didn’t prevent the ASX from falling, although losses here were less pronounced than in Japan. Oil prices are higher as WTI is trading at USD 50.50 per barrel.

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