FXstreet.com (Barcelona) - Asian markets have advanced on Wednesday as concerns about the swine flu outbreak ease, amid rumours of U.S. banks having to raise capital. Euro and Pound have bounced from yesterday´s lows and advanced upwards during today's Asian session.

South Korean Kospi Index has climbed 1.6%, while Hong Kong's Hang Seng Index rose 1.8%. Markets in Japan are closed on bank holiday.

Commodities and consumer-related firms have been bought the largest today., with China Petroleum & Chemical Corp. gaining 2.9% and Samsung Electronic posting a 7.1% jump

Euro and Pound rise, Yen declines

The Euro has posted a 240 pips rally in the last 24 hours, after having hit intra-week low at 1.2965, the Euro has climbed continuously to levels around 1.3200. At the moment, the Euro trades at 1.3198; 0.47% above its opening price.

GBP/USD has gained around 200 pips after bouncing at intra-week low at 1.4515 yesterday to reach levels above 1.4700 at late Asian session. At the moment the Pound trades at 1.4705, 0.55% above its opening price.

The Dollar reversed part of its recent losses against the Yen. After hitting 95.60, 5-week low yesterday, the Dollar has recovered to test levels at 97.00 in Asian session, at the moment the USD/JPY trades at 96.80.

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