Asian session: The euro weakened
Data:00:00 Australia Conference Board Australia Leading Index (Apr) 0.1%02:30 China HSBC Manufacturing PMI (Jun) Preliminar 50.1
The euro weakened against most of its major counterparts before European leaders begin a two-day summit in Brussels today to discuss Greece’s financing needs as the nation struggles to stave off default.
The single currency dropped for a second day against the dollar on prospects Greek Prime Minister George Papandreou will face difficulty in getting parliamentary approval next week for a package of budget cuts and asset sales, needed to be eligible for a second round of aid.
The dollar climbed after the Federal Reserve damped speculation of additional stimulus at a policy meeting yesterday.
The Australian dollar declined as stocks fell.
The dollar advanced for a second day against the yen after the Fed refrained from debasing the currency further. Policy makers decided to keep the Fed’s balance sheet at a record to spur the economy after completing $600 billion of bond purchases this month in a second round of quantitative easing, or so- called QE2. They cut growth forecasts for this year and next and raised estimates for the unemployment rate.
EUR/USD: the pair decreased in $1.4300 area.
GBP/USD: the pair shown low on $1.6015 then become stronger.
USD/JPY: the pair holds on Y80.30-Y80.60.