FXstreet.com (Barcelona) - Asian markets have opened the week on a slight sell tone ahead of the Federal Reserve's Monetary Policy Meeting, with some markets, including Japan, closed for bank holidays. Euro has pulled down from year highs, and The Pound continues its decline.
Hong Kong Hang Seng Index has edged down 0.2% after having fluctuated between positive and negative levels, and south Korean Kospi Index lost another 0.2%. China's Shangai Composite Index fell 1.5% and Australian S&P Index shed 0.5%.
The event of the current week is the Fed's monetary policy meeting, scheduled for next Wednesday, and widely awaited by the markets to assess the pace of U.S. economic recovery, as well as for clues about the outlook of interest rates, which remain at all time lows.
Euro and Pound, lower
EUR/USD has pulled down further away from 2009 high at 1.4767 hit on Thursday, as the pair broke below 1.4700 on early Asian session to trade at 1.4660 at the moment of writing, with next support area at 1.4640/50.
GBP/USD continues in free-fall and decline from September 10 high at 1.6740 has extended on Monday's Asian session to levels below 1.6200. At the moment of writing, the Pound trades at 1.6180; The Pound trades 0.20% below its day opening level and 1.95% below last week's opening price.
USD/JPY rebound from 7-month low at 90.15 on Sept 16 has extended during Asian session, as the Dollar broke through 91.60 resistance to reach 7-day high at 92.00 which is under pressure at the moment.