FXstreet.com (Barcelona) - Asian markets are, in most cases, going through declines after several positive sessions, weighed by a retreat ion commodity prices and profit-taking by investors. Euro has remained in range, while Pound and Yen have advanced.
Japanese Nikkei Index drops 0.8%, while Hong Kong's Hang Seng Index declined 0.4%, and South Korean Kospi Index dips 0.2%. Markets in Australia and Singapore have gone lower, while Chinese Shangai Index rose 0.2%.
Commodity prices have retreated from yesterday's levels. Oil prices have dropped below $79, while gold prices have retreated from all time high at $1,1143.55 to $1,1134.20 low.
Pound and Yen, higher
GBP/USD extended on Monday its rally from 1.6515 low on November 12, and after bouncing at 1.6670 low, the Sterling rose to a fresh 3-month high at 1.6870 before easing somewhat and consolidate, during Asian session, in a range from 1.6800 to 1.6845.
USD/JPY decline from 90.60 high in November 12 has extended below 89.35/40, with the pair hitting a fresh 5-week low at 88.75 before picking up and consolidate in a range from 88.90/00 to 89.15.
EUR/USD has been going through a choppy rangebound session. Recovery from 1.4825 low on Friday has entered into a consolidation period, moving from 1,4940 to 1.4995 with a bearish attempt hold at 1.4879 and an upward attempt capped at 1.5015.