Weekly FX roundup: Markets watch for EU bank stress tests

26 July 2010

The markets opened this morning in a mixed range and rather conservative in nature following Friday's release of the European bank stress tests. The stress test results showed that of the ninety-one banks undergoing evaluation, only seven need to raise a combined EUR3.5bn of capital. And although banking giants Goldman Sachs and Barclays estimated that European lenders would need to raise anywhere from EUR38bn and EUR85bn respectively, the news could have been perceived in a positive light although contradicting sentiments could point to the fact that the results may not represent a true picture.

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