Asian session: The yen fell
01:30 Australia Trade Balance (Feb) -0.205B
04:30 Australia RBA Interest Rate Decision (Apr) 4.75%
The yen fell against all its major counterparts before reports that economists said will show European retail sales increased and U.S. service industries expanded, reducing demand for Japan’s currency as a refuge.
The dollar approached a six-month high versus the yen after Federal Reserve Chairman Ben S. Bernanke said inflation expectations need to be watched “extremely closely.”
The euro rose toward a 10-month high against Japan’s currency on speculation the European Central Bank will raise interest rates this week while the Bank of Japan will keep them near zero.
Australia’s dollar fell for a second day after central bank Governor Governor Glenn Stevens left interest rates unchanged and a government report showed the country unexpectedly recorded a trade deficit.
EUR/USD: the pair shown low in the field of $1.4170 then returned back to around $1.4200.
GBP/USD: the pair bargained within the limits of $1.6100-$ 1.6140.
USD/JPY: the pair become stronger in around Y84.40.
European data for Tuesday includes the release of EMU retail trade for February at 0900GMT.US data - at 1400GMT, when the ISM non-manufacturing index is expected to hold steady at