FXstreet.com (Barcelona) - Asian markets have declined on Friday as fears about the conclusions of U.S. bank's stress test have overshadowed hopes of economic recovery. Euro and Yen have taken ground against the Dollar.
Investors have been cautious during Asian session and trade volume has been lower than usual, markets have been cautious as companies have been sending mixed signals about their earnings in the first quarter.
Japanese Nikkei Index has lost 1.3%, while Hong Kong's Hang Seng Index dropped 0.4%, South Korean Kospi Index lost 1.5%. Markets in Australia, Singapore and China were also down.
Euro and Yen trade higher
EUR/USD has reached a fresh intra-week low at 1.3190 on its rally from 1.3000 yesterday. At the moment the Euro trades 0.27% above its opening price at 1.3170.
USD/JPY has dropped from levels above 98.00 at the Asian session opening to support level at 97.00 at the time of writing. The Dollar trades at 97.05, 0.97% below its day opening level.
GBP/USD has dropped from 1.4745 high yesterday to consolidate during most of the Asian trading session between 1.4645 and 1.4690
For more information, read our latest forex news.