EUR/USD Returns to 1.27 after ECB Stress Tests

The euro held firm in early Monday trade after the European Central Bank’s stress tests found smaller capital shortfalls among European banks than expected.

Twenty-five out of the euro zone’s 130 top lenders failed landmark health checks at the end of last year but most have since repaired their finances, the ECB said on Sunday.

Painting a brighter picture than had been expected, the ECB concluded that banks’ capital holes had chiefly been plugged, leaving only a modest 10 billion euros to be raised.


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