Euro is getting a little help today in Forex trading, thanks to the latest round of stress test results from banks. Things seem to be improving for banks, and that means that there are fewer fears regarding the eurozone. There is still a ways to go for the eurozone recovery, and for the 18-nation currency, but things are looking a little bit better.
The latest round of bank stress tests administered by the European Central Bank indicate that things aren’t so bad with eurozone lenders. The latest stress tests took a look at balance sheets, and discovered that the situation is improving. This news is giving a bit of a boost to the euro today. The 18-nation currency is gaining ground against some of its counterparts on the news. Even though the latest German Ifo data is a little disappointing, the relief due to the stress test results is helping the euro.
Euro is still struggling against the pound, but that has more to do with economic divergence than anything else right now. The good news about stress tests is helping the euro against the dollar, though.
At 10:25 GMT EUR/USD is up to 1.2681 from the open at 1.2674. EUR/GBP is down to 0.7876 from the open at 0.7879. EUR/JPY is down to 136.70 from the open at 137.31.
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