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The dollar rose versus the yen for the first time in three days after Senate leaders resumed talks to avoid a U.S. default and reopen the government, damping demand for Japan’s haven assets. Senate Majority Leader Harry Reid, a Democrat, and Minority Leader Mitch McConnell, a Republican, had suspended talks earlier while the House considered its own bill. They must now reach a final agreement, get all 100 senators to permit an expedited vote and persuade House Speaker John Boehner to allow a vote that would pass largely with Democratic support.
New Zealand’s currency rose to its highest level in one month as quickening inflation boosted chances of central bank interest-rate rises. Consumer prices rose 0.9 percent from the second quarter, when they gained 0.2 percent, Statistics New Zealand said. That’s more than the 0.8 percent median forecast in a Bloomberg survey.
Gains in the euro may stall with a report today projected to confirm an initial estimate that eurozone consumer prices rose 1.1 percent in September from a year earlier, the slowest pace since February 2010. European Central Bank President Mario Draghi and Executive Board member Yves Mersch are scheduled to speak today.
EUR / USD: during the Asian session the pair fell to $ 1.3505
GBP / USD: during the Asian session, the pair fell to $ 1.5965
USD / JPY: during the Asian session the pair rose to Y98.65
There is only a limited European calendar Wednesday, kicking off at 0600GMT with the release of the EMU September ACEA new car registration data. At 0700GMT, EU Internal Markets Commissioner Michel Barnier is slated to speak to the British Banker's Association in London. There is further EMU data set for release at 0900GMT, when the September flash HICP data and the August trade data will be released. Despite the government shutdown in DC, diplomacy continues and Italian Minister Enrico Letta is set to meet President Barack Obama at the White House. UK employment data is set for release at 0830GMT.
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