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Forex: EUR/GBP rallies on BoE inflation report

The release of the BoE Quarterly Inflation Report triggered a volatile move of more 50-pip range. The EUR/GBP rallied above 0.8640 as the statement says the UK GDP will stay below pre-crisis level until 2015 and CPI should stay above target for most of the next three years. BoE Governor King is speaking.

The German 2-year debt auction was targeting an amount of €5B, but sold €4.301B at 0.21% (previously at 0.01%). The Italian 3-year bond sale had a rising average yield too, from 1.85% to 2.30%.

Mataf.net analysts point to resistances at 0.8630 and 0.8660. On the downside, supports might be found at 0.8570, 0.8540 and 0.8510.

Germany 2-year Notes auction increase to 0.21% vs 0.01%

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Swedish banks serve as shining example for European banking sector

The European banking system received a proverbial wake-up call, amidst pressure to converge in a race towards more tightened and fortified banking structures, following the recent report that Swedish regulators told their banks to target minimum capital buffers equivalent to 12% of their risk-weighted assets.
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