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European shares rise. German Dax (major indices) up for the 4th consecutive day

August 12, 2020 by admin 0 Comments

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Run to the upside continues

The European shares are closing higher for the day. The German DAX, France’s CAC, UK FTSE 100 has now moved higher for 4 consecutive days.

A look at the provisional closes shows:

German DAX, +1%
France’s CAC, +1%
UK’s FTSE 100, +2.2%
Spain’s Ibex, +0.4%
Italy’s FTSE MIB, +1.0%

As London/European traders look to exit, the CHF remains the strongest. The JPY has taken over as the weakest of the majors. The USD has moved lower in the NY session (compared to opening levels). It is now mostly lower with declines vs. the CHF, EUR, CAD, AUD and NZD and gains only vs the JPY. It is back to unchanged vs the GBP after being higher vs the pound at the start of the day.

This article was originally published by Forexlive.com. Read the original article here.