FXstreet.com (Barcelona) - Asian stock markets have gone through a sell session for the second time in a row this week on the back sharp declines in of financials. Meanwhile the Pound has bounced up against the Dollar after yesterday's sell off.
Tokyo Nikkei Index has declined 3.3% and Australian S&P Index fell 2.5%, Singapore's and Hong Kong's stock markets have also posted declines beyond 3% on Tuesday.
Financials and energy firms have lead declines on Tuesday, following Wall Street's path, banks' shares have been sold despite buoyant quarterly earnings' results by Bank of America. Investors seem to be hesitant to believe that the global banking system is back to normal yet.
Pound appreciates mildly; Dollar Yen bounces up
The GBP/USD has posted an slight recovery during Tuesday's Asian session, following Monday's decline. After having dropped to 1.4465 on early Asian session, the Sterling has managed to reach 1.4575 intra-day high, and hovers below 1.4570/80 resistance level.
The USD/JPY has also bounced up in Asian session. From 97.70 intra-day low, the Dollar has bounced to 98.45 high on late Asian session.
The Euro has remained rangebound, trading from 1.2900 to 1.2950, approaching to the highest level of the range ahead of the European session opening.
For more information, read our latest forex news.