Europe awaits Stress Test results

Friday, 15 July 2011 01:00

Eurozone is stressing out as it's waiting for the European Bank Stress test results; 91 banks in 21 nations are undergoing the test as the banks being tested constitute 65% of the European Union's total banking assets.

 The Euro is concerned about the stress test, causing its fall from the opening of 1.4167 to 1.4094 versus the U.S Dollar, earlier today.  The pair later recovered from the fall to trade at 1.4158.  The British Pound slightly strengthened against the Euro earlier today as the pair slipped from the 0.8768 opening to 0.8744.  Later on during the trading session, the pair picked up again to trade at 0.8788.