FXstreet.com (Barcelona) - Asian stock markets have been fluctuating between positive and negative territory on Wednesday as concerns over the results of banks' stress test have brought risk aversion to the markets. Euro and Pound have declined from yesterday's highs and the Yen has appreciated across the board.
With Japanese markets closed for bank holiday, Australia's S&P/ASX 200 Index edged down 0.8%, while South Korea's Kospi fell 0.4%. China's Shanghai Composite Index gained 1%.
Banks and commodity producers have been the biggest losers today; Shinnan Financial Group, South Korean second financial firm lost 4.3% and BHP Billiton he world's largest mining company lost 2.2%.
Dollar and Yen strengthen
EUR/USD has lost most of the ground taken on Monday's rally; The Euro dropped from 1.3435 high all the way to session low around 1.3245. At the moment, the Euro trades at 1.3270; 0.30% below its opening level.
GBP/USD has dropped to levels right above 1.5000 after having hit, yesterday a fresh 4-month high at 1.5163. At the moment the Pound trades at 1.5030; 0.20% below its opening price
USD/JPY has weakened further, the Dollar failed to hold above 99.00 and the pair has dropped to levels Â¡right above 98.00. At the moment, the Yen trades at 98.25; 0.67% below its opening level.
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