FXstreet.com (Barcelona) - Asian markets are going through gains on Tuesday on improved investor's confidence,after Monday's positive session in Wall Street. Euro and Pound attempt to pick up after Monday's declines.
Hong Kong's Hang Seng Index has lead gains with a 2.3% rally, while Japanese Nikkei Index rose 0.6% and South Korean Kospi Index advanced 0.6%. Sock markets in Australia, Taiwan and Singapore also advanced.
markets have been cheered by news of large acquisitions by with Abbott Laboratories and Xerox Corp, during U.S. trading time frame, which have fuelled Wall Street to close in positive figures for its first time in four days. Thew Yen, weakening against the Dollar, has also helped Asian markets, to pick up after sharp declines on Monday.
Euro and Pound attempting recovery
EUR/USD has remained trading in a range roughly from 1.4585 and 1.4635 during Asian session, after bottoming on Monday at 1.4560, 2-week low. At the moment of writing, the Euro trades at 1.4635 session high.
GBP/USD has been advancing slowly and, after bottoming at 1.5765, fresh 4-month low, the Pound has gone through recovery breaking above 1.5915/25 resistance area, and reaching, so far, levels around 1.5945.
USD/JPY bottomed on Monday at fresh 7-month low at 88.20, and the Dollar rose, ever since, up to a maximum level at 90.20 during Asian session. At the moment of writing, the Dollar trades around the 90.00 level.