FXstreet.com (Barcelona) - Asian stock markets have traded upwards on Thursday for the first time in the last four days as the Yen traded at six weeks lows against the Dollar; a weaker Yen has given hopes to Japanese exporters.
Tokyo Nikkei Index has posted a 0.9% gain on Thursday with shares of Toyota Motor Corp, one of the main Japanese exporters, rising 2.6%. Hong Kong Hang Seng Index has dropped 0.4% and the Asia-Pacific MSCI Index rose 0.9%.
Yen falls to six-week lows against the Dollar
The USD/JPY has continued rallying during Thursday's Asia trading time, reaching a maximum level of 93.95; up from around 92.10 at the session opening. The Yen has been devaluating continuously against the Dollar for the last 11 days reaching, at 92.90 tits lowest level since Jan 7.
The Euro and British Pound have been consolidating at low levels; EUR/USD has traded between lows at 1.2525 and levels right above 1.2560. The pair looks strongly bearish. GBP/USD has been trading between key levels between 1.4220 and 1.4270.