FXstreet.com (Barcelona) - Asian markets advance on strong pace on Wednesday, after two days of declines, as risk appetite increased after investor's belief on economic recovery strengthened. Euro and Pound have remained little moved.
Japanese Nikkei Index advances 1.3%, while Hong Kong's Hang Seng Index rose 1.9% and Australia's S&P index rallied 2.4%. Markets in South Korea, Singapore and Taiwan are also going through gains.
Investors have turned to riskier assets supported by Australian RBA rate hike, the first developed country in adopting a decision of that kind since the start of the global economic crisis, the decision has been analyzed as a signal of strength on Australian economy.
Euro and Pound, in range
EUR/USD has remained moving in a range roughly between 1.4685 and 1.4735 during Asian session, consolidating immediately below Tuesday's high at 1.4750. At the moment of writing, the Euro moves around 1.4700.
GBP/USD has been moving in a range from 1.5880 to 1.5940 after its decline from 1.6050 high on Tuesday, although the Pound has just dipped below 1.5880 to trade at levels around 1.5860 at the moment of writing.
USD/JPY decline from 90.00 area on Monday found support at 88.60 during U.S. session, and the pair attempted to pick up during Asian trading times although, capped at 89.05, the Dollar has walked back to test 88.60 support att the moment of writing.