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The euro briefly cut its losses against the dollar on Friday but has subsequently resumed its downward trend, while seven out of 91 European banks have failed this test of strength which they were submitted.

The Committee of European Banking Supervisors (CEBS) announced that five Spanish banks (Civica Cajasur, Unnim, and Espiga Diada), a Greek bank (Atebank) and Germany's Hypo Real Estate had not been able to maintain a ratio of Tier 1 financial stability of at least 6% in the worst case scenario used.

After an increase to 1.29 per dollar, the euro fell to 1.2845 dollars (-0.43%) to 4:25 p.m. GMT.

Last month fears about the debt crisis of the euro area and its effects on banks in the region had led the euro to its lowest level since 2006 at least $ 1.19. Since the European currency has recovered to slightly above the threshold of $ 1.30 earlier in the week.

• Deutsche Postbank is its provision for credit losses
• The Paris Bourse is reluctant to open, banks rebound
• The world stock markets expected an increase by the end of 2010
• The Paris Bourse up slightly before the ECB rate
• The PMI manufacturing index for the euro area rose slightly