EURO-YEN: Cross posted fresh 11 year lows Y98.67 in recent trade, before bouncing to Y98.90 in current dealings

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5 January 2012

EURO-YEN: Cross posted fresh 11 year lows Y98.67 in recent trade, before bouncing to Y98.90 in current dealings

Demand seen into Y98.50/45 (Y98.48 - 14 Dec 00 low), stronger behind at Y98.05/00 (Y98.02 - 13 Dec 00 low).

Market makers comment that a major German bank may need to raise funds

European stocks open: FTSE 100 5,648 -20.27 -0.36%, CAC 40 3,169 -25.03 -0.78%, DAX 6,087 -24.31 -0.40%

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