FXstreet.com (Barcelona) - Asian markets are going through mild declines on Thursday, despite a positive opening, as investors turned to profit-taking after a four-day rally. The Euro remains consolidating, while Pound moves at lower levels after Wednesday's decline.
Japanese Nikkei Index has slides 0.8%, while Hong Kong's Hang Seng Index declines 0.5%, and South Korean Kospi Index edges down 0.2%. In China, the Shangai Composite Index advanced 0.5% on the back of positive industrial production and retail sales figures.
Markets in the region opened on a bid note following another positive session in Wal, Street, and South Korean Central Bank's monetary policy decision to maintain interest rates at record low, which points out to an extended period of low interest rates in the Area.
Euro, in range around 1.50; Pound at week lows
EUR/USD remains trading in a range from 1.4940 to 1.5050, consolidating since rally from 1.4815 on Friday topped on Monday at 1.5020. During Asian session, the Euro has moved from 1.4980 to 1.5015, after bouncing at 1.4950 low on Wednesday.
GBP/USD declined on Wednesday after its failed attack to 1.6800 level, and the Pound gave away about 250 pips to hit intra-week low at 1.6535, before posting a tepid pickup reaching 1.6625, before returning to prices around 1.6565 at the moment of writing.
USD/JPY declined from 90.20 high on Tuesday to intra-week low at 89.30 on Wednesday, and the Dollar has rose to 90.00 afterwards, but, unable to break above it, the pair has remained trading in a range from 89.65 to 90.00.