FXstreet.com (Barcelona) - Asian markets are going through gains on Friday following Wall Street's optimism on investors' renewed optimism on U.S. Government's measures to tackle the global economic slowdown. The Dollar has dropped against Euro Yen and Pound.
Tokyo Nikkei Index has risen 1% and Australian S&P Index advanced 0.7%, In Hong Kong, benchmark Hang Seng Index has dropped 0.5%, while Korean Kospi Index edged down 0.2%.
In the U.S. news from Best Buy Co. and ConAgra Foods Inc having obtained better than expected results have added reasons to the idea that economic measures adopted by the Government are starting to show their consequences, and Wall Street posted increases above 2%.
Dollar weakens on improved economic outlook
Risk appetite has dominated the markets during Asian session, EUR/USD has reached resistance level at 1.3580 level after having bounced at 1.3495 on late U.S session.
GBP/USD has risen from 1.4425 low in U.S. session times reaching a session high at 1.4495, although the Pound has been refused at that level on late Asian session times giving away in an hour all the ground taken before. At the time of writing the Pound is trying to pick up from 1.4425.
USD/JPY has been rejected at the 98.90 resistance level, and it has declined more than 100 pips to 97.80. At the moment of writing, the USD/JPY is testing prices below the mentioned level.