Asian session: The euro declined
The euro declined to three-week lows against the dollar and the yen as speculation the European debt crisis is worsening damped demand for the region’s assets.
The single currency dropped for a second day after Dutch newspaper Het Financieele Dagblad cited European Central Bank Governing Council member Nout Wellink as saying the emergency fund for euro-zone countries should be doubled.
The Australian and New Zealand dollars dropped as Asian stocks declined.
EUR/USD: the pair continued yesterday's falling. Today the rate tested $1.4100.
GBP/USD: the pair continued yesterday's falling. Today the rate tested $1.6140.
USD/JPY: the pair holds on Y80.80-Y81.00 area.UK data at 0830GMT includes SMMT Car Production as well as Retail Sales for May.
EMU data at 0900GMT includes the final reading of HICP as well as Q1 employment data.
US data starts at 1230GMT with the weekly Jobless Claims as well as current account and Housing Starts, Building Permits data. Initial jobless claims are expected to fall 7,000 to 420,000 in the June 11 week, while the pace of housing starts is expected to rise to 547,000 after falling 10.6% in April. Home building remains very weak as homes
sales are still below year ago levels. This is followed at 1400GMT the Philadelphia Fed index is expected to rise to a reading of 9.0 in June sharp declines in April and May.