The euro rose today after the European supervising agency released its report on the stress test results of 91 banking institutions on 16:00 GMT. Though, the impact of the release wasn’t very strong.
The euro rose against the U.S. dollar after the release was made available to the public. Having fallen earlier today, the Eurozone currency began to rise about 2 hours before the report, then went through an hour of strong market volatility and then ended up in a rather sound bullish trend wave. It failed to go up against the British pound as the latter was experiencing a very prominent trading session today.
The Committee of European Banking Supervisors reported on the strength of the of the EU banking sector today. A 55-page summary of the report mentions 7 banks that failed the test (majority of them comes from Spain). But it looks like the report didn’t impress the market participants as there wasn’t any definite unidirectional movement after the release.
EUR/USD rose from 1.2887 to 1.2918 as of 19:29 GMT today after falling to as low as 1.2793 earlier. EUR/JPY increased from 112.16 to 112.97.
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