FXstreet.com (Barcelona) - Asian markets have opened the week with sharp gains, on improved investor's optimism after Fed's Chairman, Bernanke expressed his confidence in global economic recovery. Euro and Pound remain steady.
Tokyo Nikkei Index rose 3% on Monday, following wall Street's positive session, while South Korean Kospi Index rose 1.8% and Hong Kong's Hang Seng Index rose 1.9%. Markets in Taiwan and Australia were also higher.
Rusk appetite has been fuelled by Fed Chairman Ben Bernanke affirming his conviction that U.S. economy is walking through the path of recovery, a theory supported afterwards by a well better than expected increase in U.S. home sales.
Euro and Pound, in range
EUR/USD has been trading in a range from 1.4325 to 1.4360 during the whole Asian session. On a longer point of view, the Euro continues on the upside, after having bounced at 1.4045 low on August 17.
GBP/USD has opened Asian session at levels around 1.6500, to hit a session high at 1..6550 and drop afterwards to levels right below 1.6500. On a wider perspective, the Pound continues consolidating around 1.6500 since Aug 19.
USD/JPY continues appreciating after Friday's bounce at 93.40. The Dollar has opened Asian session at levels around 94.40, to reach 94.90 at the time of writing.