The euro and the pound moved upwards in foreign exchange trading in Asia on Friday (September 25th) ahead of the opening of European markets.However, FX Street tracked downward movements in the dollar and the yen as Asian and US equity markets suffered from macroeconomic weakness. Investor confidence in the US was bruised after a surprise drop in home-buying activity was identified yesterday, with a bearish trading sentiment also witnessed in Japan, Hong Kong, Shanghai and South Korea.Japan's Nikkei Index slumped 2.4 per cent after brokerage giant Nomura announced its largest ever share placing plan.The euro also suffered against the dollar in the wake of the latest US housing figures, but picked up this morning after finding intra-week low support at around $1.4615, rising to around $1.4700 at 06:05 GMT.GBP/USD was also recovering after an announcement from Bank of England governor Mervyn King yesterday indicating that the institution was comfortable with a weaker pound.