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- Asian session: The dollar and yen advanced
Asian session: The dollar and yen advanced
The dollar and yen advanced against most of their major peers as a decline in U.S. stock futures supported demand for the haven currencies.
The 17-nation euro failed to rally versus its U.S. and Japanese counterparts before a European Central Bank meeting today, where 11 out of 52 economists survey predict policy makers will cut borrowing costs.
The Dollar climbed for the sixth time in seven days.
The euro held a two-day advance against the Swiss franc and the pound on speculation European leaders will step up efforts to aid the region’s banks in a bid to resolve the debt crisis.
The Bank of England is also due to announce a decision on its official bank rate today and will probably hold it at 0.5 percent, according to all 53 economists in another poll.
The Australian and New Zealand dollars held a two-day gain versus the U.S. currency as Asian stocks extended a worldwide rally, increasing demand for higher- yielding assets.
EUR/USD: on asian session the pair fell, but later restored
GBP/USD: on asian session the pair fell, but later restored
USD/JPY: the pair holds in range Y76.70/80
On Thursday at 1000GMT by German manufacturing orders, but this will also be overshadowed by the later ECB announcement at 1145GMT with it's policy announcement, followed as usual by the press conference, this time taking place in Berlin. This will be Jean-Claude Trichet's finale as ECB President with investors continuing to guess how the central bank will react to quickly deteriorating economic sentiment and ominous financial market tensions. At 1400GMT, the Insee, IFO, ISAE institutes deliver their 4Q Eurozone.
economic outlook. At 1230GMT, US data starts with initial jobless claims.
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