Last week we saw the Bank of England (BoE) monetary policy deciding to maintain interest rates and Britain's FTSE 100 index was seen opening up 34-38 points, or 0.7 percent higher on Friday. Importers from the UK are likely to see some strong trading today as GBP to USD saw highs that have not been experienced in a while and GBP/EUR also showed favorable rates.
Reports have shown that BoE policy makers have decided to maintain the size of their bond buying program this week amid a split as to whether the economy needs more stimulus.
In the U.S. the government debt prices fell, marking the end of a wild first quarter for Treasuries, which was marked by their worst three-month period since the fourth quarter of 2010.
Spain put forward a budget that aims to save more than €27 billion in 2012, a goal which the country hopes to meet by making spending cuts and revenue increases. Their bailout is topped at €700 Billion temporarily.
In Europe also Eurozone finance ministers agreed to raise their financial firewall to contain the region's debt crisis.
While we have seen some positive news including stocks rising for US data and gains for the euro in Spain which seem to show upward trends for the US & euro, the GBP is still opening stronger against it major counterparts.