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A trader in Paris checks the first quote of the euro

• Pies in the face
• Voices of confidence
• Car prices down?

FRANKFURT, Germany (CNN) -- The euro made a strong debut on foreign exchange markets on Monday as traders signaled their confidence in Europe's unified currency on its first full day of trading on all major international financial markets.

Political leaders in Europe again expressed their confidence in the new currency, which unifies about 290 million people in 11 nations grouped in what is now often referred to as "euroland."

A dealer wearing a euro-jacket at the Frankfurt stock exchange

For at least one minister, though, the day got off to a sticky start: anti-euro protesters threw two pies at Dutch Finance Minister Gerrit Zalm as he opened the Amsterdam bourse.

Monday's trading saw the euro driven higher against the U.S. dollar and Japanese yen by dealers who once doubted that the new and untested currency would ever be more than a politician's dream.

The euro is seen as a potential challenge to the dollar, and everybody in the financial world was therefore keen on monitoring the first trends -- even though the real test for the euro will likely take months, if not years, according to financial experts.

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Trading in the euro was relatively light as investors shied away from rushing into deals, and banks continued to check that their trading systems and spreadsheets were coping with the conversion after a weekend of intense preparations.

One reason why the market was wary of pushing the euro too far was traders' concern that the European Central Bank might step into the market to ensure a smooth start for the currency.

Shares welcomed the new currency in spectacular fashion, with most indices of top stocks in the euroland -- such as Paris and Frankfurt, the seat of the ECB -- rising in light trade.

The gains in Europe were in contrast with leading bourses in Asia, where stocks fell 3 percent in Tokyo and more than 2 percent in Hong Kong.

Voices of confidence

Political leaders praised the new currency after it fared well in trading.

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German Chancellor Gerhard Schroeder said the euro offered "friendly competition" for established currencies and would strengthen Europe's profile in international financial markets.

French Finance Minister Dominique Strauss-Kahn focused on the unity created by the euro, saying it would help boost growth and cut unemployment in Europe.

"When everybody pushes in the same direction, everybody goes quicker," he said.

Dutch Finance Minister Zalm also hailed the start of the euro as positive for the Dutch economy and beneficial to consumers.

But he had to interrupt his speech in Amsterdam when members of a group known as TAART (meaning cake in Dutch and standing for "Against authoritarian anti-revolutionary characters") threw two cakes at him.

TAART said the euro was anti-democratic and only beneficial to companies.

Car prices down?

Chairman Louis Schweitzer of French car manufacturer Renault believes that the new currency will drive down car prices in Europe.

He told La Tribune newspaper that unified euro prices throughout the continent would reveal the sometimes massive price differences of a particular car model in different countries.

He said that such price disparities would not be acceptable as it would lead to a gray market.

Competition would also push down prices. "Renault now has to generate margins on a market enlarged to include all of Europe, whereas before there were few countries outside France where the company had money," Schweitzer told La Tribune.

The Associated Press and Reuters contributed to this report.