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04:30 Australia RBA's Governor Glenn Stevens Speech December
The dollar remained lower versus the euro after a two-day decline, with the Federal Reserve expected to announce today an expansion of asset purchases that tend to weaken the U.S. currency. The greenback slid versus most of its 16 major counterparts yesterday amid speculation the Fed will add Treasury purchases to an existing program that buys $40 billion in mortgage bonds each month. The Federal Open Market Committee will probably announce $45 billion in monthly Treasury buying that would push its balance sheet almost to $4 trillion, according to the median estimate in a Bloomberg News survey of 49 economists. It concludes a two-day policy meeting today.
The euro was supported ahead of meetings of European Union finance ministers and heads of government this week, while Greece met its bond buyback target. An official from Greece’s Finance Ministry said yesterday investors tendered Greek bonds with a face value of more than 31 billion euros ($40 billion), meeting a goal that’s crucial to unlocking aid from the EU and the International Monetary Fund.
The yen fell as much as 0.2 percent against the dollar after the Japanese government said North Korea launched a rocket at around 9:49 a.m. Japan time, and it headed in a southerly direction, passing over Okinawa, before falling into the sea east of the Philippines.
EUR/USD: during the Asian session, the pair traded in the range of $1.2995-15.
GBP/USD: during the Asian session, the pair traded in the range of $1.6105-20.
USD/JPY: during the Asian session, the pair rose to Y82.70.
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