FXstreet.com (Barcelona) - Asian markets are going through declines on Wednesday following Wall Street's decline, ahead of the end of the two-day monetary policy meeting by the Federal Reserve. Euro and Pound have remained in tight ranges, Yen rose.
Tokyo Nikkei Index declined from a 10 month high with a 1.4% decline, with exporters such as Toyota and Canon dropping 1.9% and 0.9% respectively. Hong KongÂ¡s Hang Seng Index shed 2.1%, and South Korean Kospi Index declined 0.8%.
Investors will remain cautious ahead of a string of economic reports across the globe and the key U.S. Federal Open Market Committee meeting.
Yen rises further
USD/JPY continued declining fron Friday's high at 97.77, as the Dollar dropped from session high around 96.10, to levels below 96.00, hitting 95.30 session low. At the moment, the pair trades at 95.50.
EUR/USD has remained moving in a tight range from 1.4130 to 1.4170 during the whole Asian session, after having bounced at 1.4110 on Tuesday's U.S. session.
GBP/USD bounced on Tuesday at 1.6430 intra-week low to consolidate during Asian session within a range from 1.6460 to 1.6510, ahead of the U.S. Fed meeting.