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01:00 China Non-Manufacturing PMI December 56.0 54.6
The yen and Australian dollar, the two worst-performing major currencies in 2013, were set for the biggest weekly gains in more than two months on signs their recent declines may have been too rapid.
Japan’s currency headed for gains versus most major peers this week amid speculation the nation’s investors will repatriate earnings.
The euro was set for a weekly drop on bets policy makers will add to measures supporting growth. ECB President Mario Draghi surprised investors in November by cutting the euro region’s main interest rate to a record 0.25 percent. He and his board will probably hold borrowing costs when they next gather on Jan. 9, according to the median estimate of economists surveyed by Bloomberg.
The extra yield 10-year U.S. Treasuries offered over similar government debt for Germany, the euro region’s biggest economy, was near a seven-year high before Federal Reserve Chairman Ben S. Bernanke speaks today and European Central Bank officials meet next week. Bernanke is scheduled to make remarks today at an economics conference in Philadelphia, as is Philadelphia Fed President Charles Plosser.
EUR / USD: during the Asian session, the pair traded in the range of $ 1.3645-70
GBP / USD: during the Asian session, the pair traded in the range of $ 1.6420-60
USD / JPY: on Asian session the pair fell to Y104.05
UK data begins with the release of Nationwide house prices at 0700GMT, with UK construction PMI due at 0930GMT along with UK lending data.
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