FXstreet.com (Barcelona) - Asian markets have soared on Friday on speculation of Japan and China's government plans to kick start economy. Euro surged close to 1.30 and The Pound peaked inches below 1.40.
Comments from Chinese Prime minister Wen Jiabao on Chinese government injecting an stimulus package of about $600 millions, plus speculation that Japanese government prepares similar measures have boosted stock markets in Asia.
Following the third consecutive positive day in Wall Streets, Asian markets have surged, Tokyo Nikkei Index has added more than 5% while Hong Kong's Hang Seng Index gained 4%.
Euro rose to 1.30; Pound below 1.40
Euro and Pound have rallied during Friday's Asian session taken by an strong wave of risk appetite. EUR/USD bounced back, after having double-bottomed at 1.2730 n U.S. session, has boosted all the way to a peak of 1.2945, to withdraw slightly towards 1.2870 ahead of the European opening.
GBP/USD has moved from yesterday's low at 1.3700 during U.S. session to an intra-day high at 1.3985, although the pair has turned down and trades around 1.3880 heading towards support line at 1.3840.
USD/JPY has appreciated during Asian session climbing from session low at 97.13 to explore territories above 97.90 (Mar 10 low) ahead of the European opening bell.