Asian session: the euro dropped
Australia HIA New Home Sales, m/m August 1.1%
The yen rose against most of its major counterparts as EU’s worsening debt crisis and speculation that a report today will show U.S. durable goods orders fell last month, bolstered demand for the safest assets.
The euro headed for its biggest monthly decline against the yen in more than a year after the Financial Times reported yesterday that some euro-area countries want private creditors to take bigger writedowns on their Greek bond holdings. The euro held a three-day advance against the dollar.
Greek Prime Minister George Papandreou won parliamentary backing late yesterday for a property tax to meet deficit- reduction targets required to avoid default. Germany still privately anticipates that the Mediterranean nation will default on its debt as early as this year, Bild reported Chancellor Angela Merkel. France’s statistics office confirmed today that gross domestic product was unchanged in the second quarter from the preceding period. That’s in line with the initial estimate reported last month.
EUR/USD: on asian session the pair gain dropped.
GBP/USD: on asian session the pair hold at narrow range. USD/JPY: on asian session the pair gain. Focus today Troika to return to Athens to continue inspection/review. Finnish parliament vote on the amendment to the EFSF framework agreement at 1100GMT. Later U.S. Durable Goods Orders August and U.S. EIA Crude Oil Stocks change.