Euro Vs Dollar: Trading Has Been Limited

Limited gains are being recorded from the euro against the dollar, with investors reluctant to trade after the initial positive reaction to publication from results of testing the strength of European banks. The appetite for risk is simply shrinking therefore sending European markets to a negative territory. According to figures disclosed Friday, only seven of the 91 banks that went rhough the endurance test failed, including five in Spain, one in Germany and one in Greece, showing a deficit of funds of 3.5 billion. “Negative shocks have been prevented because of the generally reassuring findings from the test resistance …», commented an analyst from Credit Agricole CIB. At 14:10 GMT, the Euro / Dollar rate was modulated at $ 1.2904 and the Dollar / Yen at 87.08 yen.