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European stocks advance- FTSE 100 sets new record as Dollar slips
The European equity markets are right now setting fresh session highs. That is seeing the DAX rise above 18,350 and the FTSE 100 set new all time highs above 8,330. At the same time the dollar has lost ground versus all its major counterparts. The EUR/USD is on session highs near 1.0780 and the GBP/USD has lifted back above 1.2550 and hence back above the 200 day moving average. The USD/JPY has rejected an earlier move to potentially set fresh session highs above 154.65 and slipped back towards 154.25. Once again it seems the Yen is leading the way in terms of any immediate price swings. The move lower in the dollar and higher in stocks comes even as the Fed governor, Kashkari offers some reasonably hawkish comments just now.
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