FX & CFD trading involves significant risk
00:30 Australia RBA Meeting's Minutes March
02:00 China Leading Index February 1,3% 1.3%
The yen declined versus all 16 major peers as Asian stocks rebounded from yesterday’s biggest drop in more than seven months, damping haven demand.
The currency weakened for the first time in four days against the dollar before a change of leadership at the Bank of Japan takes effect tomorrow amid expectations for policy easing.
The euro traded 0.6 percent from its lowest level this year before Cypriot lawmakers vote on how to spread the burden of a levy on bank depositors to help fund the nation’s bailout. Former European Central Bank Executive Board member Lorenzo Bini Smaghi said today the type of bailout used in Cyprus was unique and wouldn’t be applied to other nations needing international aid. A vote on the tax in the Cypriot parliament was delayed for a second day until today. The country’s banks will remain shut until March 21, a government official said.
New Zealand’s dollar fell after Finance Minister Bill English called the currency overvalued. New Zealand’s dollar declined as much as 0.3 percent to 82.42 U.S. cents, before trading 0.2 percent lower at at 82.54, after Finance Minister Bill English said in an interview with Bloomberg News that it was over-valued, and may correct when the U.S. economy picks up. He also said interest rates may stay lower for longer. Interest-rate swaps data compiled by Bloomberg show traders see an 88 percent chance the central bank will hold the benchmark rate steady at a record low of 2.5 percent through the Oct. 31 meeting, rather than raise it, up from 76 percent odds a week ago.
EUR / USD: during the Asian session, the pair traded in the range of $ 1.2935-65.
GBP / USD: during the Asian session, the pair traded in the range of $ 1.5080-15.
USD / JPY: during the Asian session, the pair rose to Y95.75.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.