FXstreet.com (Barcelona) - Asian markets are going through loses on Wednesday as risk aversion prevails after Japanese economy figures showed weaker than expected growth levels on the third quarter, which has increased concerns about the strength of economic recovery; Yen and Euro have remained steady while Pound edged lower.
Japanese Nikkei Index has declined 1.4%, while Hong Kong's Hang Seng Index went 0.9% down, and Australian S&P Index dipped 0.7%. Benchmark indexes in South Korea China and Singapore have also dipped.
Investors have taken their cash out of the markets Japanese GDP figures showed an annualized 1.8% growth on the third quarter, to dampen markets expectations of a growth by about 4.8%, which points out to a troubled recovery on the world's second economy
Euro and Yen steady
EUR/USD retreat from 1.5140 high last week extended on Wednesday's Asian session to a fresh 5-week low at 1.4665, and the pair attempted to pick up, although, capped at 1.4735, the Euro has retreated to 1.4700 area at the moment of writing.
GBP/USD continues trading lower at a steady pace and downtrend from last week's top at 1.6700 has reached levels below 1.6200 as the Pound trades at 1.6170 at the moment of writing. The Pound trades, at the moment 0.65% down on the day, and 2.25% lows on the week.
USD/JPY has remained trading within a narrow range during Asian session, from 88.20 to 88.60, although the pair is breaking lower at the time of writing, reaching levels around 88.00, at intra-week low.