FXstreet.com (Barcelona) - Asian stock markets have declined on Tuesday, putting an end to the longest positive streak since November 2007, on renewed concerns over the banking system. Euro and Pound have declined from Monday's highs
Tokyo Nikkei index has edged down 0.2%, after the Bank of Japan decided to keep its overnight lending rate at 0.1%, while Hong Kong's Hang Seng Index has dropped 1.1% and Australian S&P Index fell 0.9%.
The Reserve Bank of Australia has trimmed its benchmark interest rate by 0,25% to 49-year low 3% as the bank's monetary policy committee reckoned the country faces its first recession since 1991.
Euro and Pound ease from yesterday's highs
GBP/USD decline from 1.4955 2-month high, has extended during Tuesday's Asian session reaching 1.4640 support level. At the moment, the Pound seems to be consolidating between the mentioned support and 1.4700.
EUR/USD decline from 1.3585 high reached on Monday has extended during Asian session to 1.3320 minimum level to pick up somewhat later. At the moment the Euro trades between 1.3340 and 1.3380.
USD/JPY remains trading above the 100.00 level although the pair has eased somewhat from yesterday's high at 101.40. At the moment, the Dollar moves between 100.35 and 100.70.