Asian session: The yen dropped
05:00 Japan Coincident Index (Feb) 106.3
05:00 Japan Leading Economic Index (Feb) 104.2
The yen dropped to a six-month low against the dollar on speculation Japan will trail behind other developed nations in ending stimulus measures as it rebuilds after its biggest earthquake.
Japan’s currency fell against all its major counterparts on expectations the central bank will decide on new fund-providing measures at a two-day policy meeting starting today.
The euro rose to a 10-month high against the yen before a report forecast to confirm Europe’s economy expanded for a sixth quarter.
The Australian dollar strengthened to the highest level in 30 months against the yen as the extra yield offered by bonds in the South Pacific nation attracted investors.
EUR/USD: the pair become stronger in around $1.4270.
GBP/USD: the pair become stronger in around $1.6340.
USD/JPY: the pair shown high in the field of Y85.50.
UK data: at 0830GMT with UK industrial production and manufacturing output data. IP is expected to come slow slightly to +0.4% m/m, 4.3% y/y with manufacturing at 0.6% m/m, 5.8% y/y.
EMU data sees the third release of Q4 GDP at 0900GMT, which is followed at 1000GMT by German manufacturing orders data.