FXstreet.com (Barcelona) - Asian stock markets have extended their positive streak on Thursday on the back of better than expected macroeconomic figures in the U.S. The Dollar has recovered after yesterday's swing.
Asian stock markets have rise, reaching their highest level in the past 11 weeks, with Tokyo's Nikkei Index 1.1% up, and Hong Kong's Hang Seng Index rising 2.6%. Australian S&P Index rose 1%.
Better than expected U.S. Durable goods orders and New home sales have fed investor's optimism and strengthen the idea that the worst part of the crisis is already over.
Dollar returns to previous levels
The Dollar, which tumbled about 150 pips on the back of Geithner's suggestion to create a new global reserve currency, has returned to previous levels against most majors
GBP/USD has risen from intra-day low at 97.10 back to levels close to resistance level at 98.00. GBP/USD, which fell to a 1.4545 minimum level after the jump on Geithner's comments, has crawled up during Asian session reaching 1.4620, being unable to cross that level so far.
EUR/USD has remained trading in a range from 1.3530 to 1.3615, after decline from 1.3650 yesterday, maximum level reached after Geithner's speech.