FXstreet.com (Barcelona) - Asian markets have mostly opened the week in a sell tone as expoters' shares declined in Tokyo, weighed by a strong Yen. Euro and Pound have gone lower during Asian session, pulling down from last week's highs.
Japanese Nikkei Index has declined 2.5%, while Hong Kong's Hang Seng Index went 0.9% down, and South Korean Kospi Index shed 0.8%. In Australia, the S&P Index declined 1.2%, and Chinese Shangai Composite Index edged up 0.3%.
Japanese exporter firms have led losses in Tokyo, with Honda Motors and Sony Corp both 2.8% down, while Canon shares dropped 3.6% weighed by an strong Yen; at its highest level in seven month, that makes Japanese products more expensive and thus, less attractive for foreign buyers.
Euro and Pound drop from last week's highs
EUR/USD has pulled down from last Friday's 1.4635, 2009 high, as the Euro eased from an opening level around 1.4600 to prices right above 1.4500 at the time of writing. The Euro trades now at 1.4515; 0.55% below its day opening price.
GBP/USD reached on Friday a fresh one-month high at 1.6740 to close the week around 1.6655, and the pair has continued its retreat on Monday's Asian session with the Pound reaching levels around 1.6570, as the Sterling drops 0.65% below its day opening level at 1.6685.
USD/JPY is going through a strong downtrend and from August 5 high at 97.75, the Dollar has dropped to 90.20 low during Asian session, a fresh 7-month low which is being tested at the moment.