Market news

13.04.2011, 08:27

Asian session: The yen weakened

The yen weakened against all its major counterparts before reports that economists said will show European industrial production and U.S. retail sales improved, damping demand for the safety of Japan’s currency.

The yen dropped toward an 11-month low versus the euro on speculation European policy makers will add to last week’s interest-rate increase, while Japan’s central bank maintains stimulus measures.

New Zealand’s dollar strengthened for a second day after a report showed house prices increased.

China’s yuan climbed to a 17-year high on speculation policy makers will unveil more measures to curb inflation.

ECB President Jean-Claude Trichet and colleagues boosted the main refinancing rate on April 7 to 1.25 percent from a record low 1 percent, where it had been since 2009, and left the door open for further increases.

New Zealand’s dollar rose against all major counterparts after the Real Estate Institute said its index of house prices increased 0.5 percent in March from February.

Australian dollar rallied from near a one-week low versus the yen after an industry report showed consumer confidence improved in April.

EUR/USD: the pair become stronger above a mark $1.4500.

GBP/USD: the pair grown in around $1.6280.

USD/JPY: the pair become stronger above mark Y84.00.

EMU data continues at 0900GMT with the release of EMU industrial output data for February.

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