FXstreet.com (Barcelona) - Asian markets have opened the week on a positive note after considerable declines last week, as United Arab Emirates announced their intention to contribute with funds in Dubai's crisis. Euro and Pound have bounced up from Friday's lows.
All benchmark indexes have reacted positively to news from the UAE,Japanese Nikkei Index rose 2.5% while Hong Kong's Hang Seng Index advanced 3.3% and South Korean Kospi Index rose 2.7%. Markets in China, Australia and Taiwan have also advanced.
United Arab Emirates Central Bank has announced its intention to make provide with extra funds all banks of the Country, which investors have understood as the needed aid for Dubai, which recently requested creditors for a delay on the payment of its $60 billion debt.
Euro and Pound on recovery
EUR/USD decline from 1.5145 year to date high found a bottom at 1.4828 on Friday's early European session, and the pair's rebound has ext5tended during Monday's Asian session reaching levels at 1.5085 session high. At the moment of writing the Euro trades at 1.5050; 0.30% above its day-opening price.
GBP/USD decline from 1.6730/50 high last week found support at 1.6270 on Friday, and the pound's recovery has exttended during Asian session to reach an intra-day high at 1.6590, right below 1.6600 resistance, which is under pressure at the moment of writing.
USD/JPY bounced on Friday from fresh 15-year low at 84.80, and the pair's recovery has peaked at 87.20 before pulling down during Asian session, to levels right above 86.00 at the moment of writing.