FXstreet.com (Barcelona) - The Euro has recovered in Tuesday's Asian session all the ground lost on Monday, while the Pound consolidated at six-weeks lows. Asian markets have been mixed although, financials, the biggest losers yesterday, have posted gains on Tuesday.
Asian markets have been mixed on Tuesday following after Wall Street closed in levels of 1997, on the back of the World Bank's warning of an economic contraction worldwide. Financial stocks have returned to gains after the 10.7% increase in the S&P Bank Index, reversing partially losses posted on Monday.
Sterling remains underwater, Euro picks up
The Euro has posted a sharp recovery during Tuesday's Asian Trading session. Bouncing from 1.2578, the Euro has taken back all the ground lost on Monday rallying almost 150 pips and crawling on its way towards 1.2727 intra-week high.
The Pound has remained at low levels after Monday's decline. After having reached a fresh 6-week low at 1.3742, the Pound is attempting to pick up trying to hold above 1.3800/10 resistance level.
The USD/JPY has suffered an slight reverse after having reached 98.90 again. After several attempts to gain 98,90 resistance level, the pair has been rejected and has dropped back towards 98.50 resistance level, which is beign tested at the moment.