FXstreet.com (Barcelona) - Most Asian markets have gone through moderate advances on Tuesday, although investors remain cautious, with concerns about economic recovery looming and a too strong Yen damaging Japanese exports. In FX markets, Euro and Pound pick up from Monday's lows. Japanese Nikkei Index dipped 0.2%, while Australian S&P/ASX Index rose 0.6% and South Korean Kospi Index advanced 0.5%. Hong Kong's Hang Seng Index edged 0.1% down, and the Chinese Shangai Composite Index ticked 0.2% up. Japanese companies, heavily dependent on exports, have been hurt by Yen strength and the absence of action by Japanese government to tackle it. Olympus lost 1.4% while Nintendo dropped 1.2%. Car makers have also felt Yen strength and Toyota Motors lost 0.7%, while Honda Motor shares dropped 1.1% lower. Yen remains close to long-term lows USD/JPY reversed on Monday and early Tuesday, most of the ground taken during the previous three days, and, after peaking at 86.35 high on Friday, the pair dropped on Monday and extended on early Tuesday to bottom at 85.10 low, before picking up to 85.30 at the moment of writing. EUR/USD decline from August 6 high at 1.3335 extended yesterday to a fresh 3-weeks low at 1.2730, and the pair picked up to consolidate at levels between 1.2800 and 1.2870 during US and Asian sessions. GBP/USD decline from 1.6000 high on August 9 extended lower on Monday's Asian session, and the Sterling hit a fresh 2-weeks low at 1.535 to pick up during European trade, and consolidate between 1.5635 and 1.5700 during US and Asian sessions.

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