1.3360 is toastado and already acting as resistance. EUr/JPY is one of the pairs being dragged lower as it falls back towards the overnight lows around 136.90.
European stocks have more than washed out Ukraine worries with the FTSE finishing up 0.8% at 6714. The Dax goes out up 1.7% at 9245, while the CAC puts on a very respectable 1.4% to 4234. Spain matches the French with a 1.4% gain to 10361 leaving the Italian well behind with their uplift of 0.8% to 19639. The Portuguese hold on to winning run with a 2.4% move to 5655.
European bonds see yields jump in all but Portugal
European bonds 18 08 2014
I’m still not overly sure why the euro is under pressure. It saw support on Friday so it could be some of that filtering out, as looks like in bond yields today and there’s naff all on the calendar until Wednesday and German PPI. It is what it is though so keep an eye on the 1.3330/35 level as if that goes then we could have some fun and games.
