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The pound fell almost 10 percent at one point to USD 1.1378 before stabilising around USD 1.2415, still down 1.5 percent from late US levels, leaving traders scratching their heads in the absence of news or market events that would justify such a move.
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French President Francois Hollande today affirmed that the Rs 60,000 crore Rafale fighter jets deal with India was "on the right track" and that it would pave the way for an unprecedented industrial and technological bilateral cooperation for the next 40 years.
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The coordinated attacks, in which 130 people were killed, prompted France to declare a national state of emergency and to step up air strikes in Syria on Islamic State, the militant group that has claimed responsibility.
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During the three-day stay here, France pledged 2 billion Euros for sustainable development in India as the Prime Minister invited investments and technology from this country.
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Google is to pay 60 million euros into a special fund to help French media develop their presence on the Internet under a top-level deal signed on Friday, but will not pay them for posting links to their content.
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European leaders agreed on Friday to press on with further steps to tackle their debt crisis but German Chancellor Angela Merkel threw out a proposal to boost risk-sharing with a fund to help euro zone states in trouble.
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European Union leaders have reached a deal to set up a joint supervisory body for the euro-zone banks next year as the first step towards a banking union in the single currency area.
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France's "First Lady" is dropping plans to relaunch a TV career but says that she will not quit as a journalist at Paris Match magazine because she wants to raise her children without depending on President Francois Hollande for money.
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Europe must take a decision quickly on the future of Greece once the troika report from the European Commission, European Central Bank and International Monetary Fund is completed in October, French President Francois Hollande said on Saturday.
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After the extended rally across global markets, Andrew Economos of JPMorgan AMC anticipates a pullback. However, he sees the equity markets to resume its rally into the fourth quarter.
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UBS economist Martin Lueck explains to CNBC-TV18 that statement made by Draghi of assuring that he would do everything in his mandate to rescue euro seems coordinated as it was backed up by statements issued by Merkel, Hollande and Monti.
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The uncertainty in the global markets continues with apprehensions of a Greek exit from the eurozone. In an interview with CNBC-TV18, Arjuna Mahendran, MD and Head Investment Strategy Asia at HSBC bank said that the uncertainty on Greece is likely to linger till June, when Greece is scheduled to go for a re-election.
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Standard Chartered‘s senior economist Sarah Hewin takes CNBC-TV18 though a quick tour of significant developments across Europe - from positive signals in Greece on rumours of a coalition to Germany's Merkel being sympathetic to France's Hollande's views of tempering the austerity compact with growth plans
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Gustavo Bagattini of RBC Capital Markets explains to CNBC-TV18 that Hollande‘s stance after being elected as President is key to the euro and growth in the recession-affected EU
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French presidential frontrunner Francois Hollande, under pressure to respond to France's one in five far right voters, said on Friday that limiting the number of foreigners entering the country to work was justified during an economic crisis
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Europe has been a little better on Thursday partly because Ben Bernanke hinted that he is ready to provide stimulus. Stephane Deo of UBS AG tells CNBC-TV18 how Europe is coping.
