Most major equity markets were closed today for Easter Friday and price action in currencies has been subdued.
The Euro failed to make any material gains despite European Union Finance ministers finally agreeing yesterday on a €500bn rescue fund. The GBP/USD cross has risen marginally higher to just below 1.25 at time of writing – the high since mid-March. The price of Brent crude oil did however fall 3% yesterday despite reports that major OPEC oil producers, including Saudi Arabia and Russia, had reached a preliminary deal to cut production with markets seemingly concerned this will not compensate for the fall in global demand – a case of too little too late
