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- Asian session: The euro fell
Asian session: The euro fell
The euro fell toward the lowest in more than a week before Italy and Spain sell debt tomorrow amid concern Europe’s fiscal crisis is infecting bigger economies. Italy is scheduled to sell inflation-linked securities maturing in 2016 and 2026 tomorrow as well as 3 billion euros ($3.8 billion) of zero-coupon bonds. Spain will offer three- and six-month bills the same day.
The 17-nation currency halted a gain from the end of last week as billionaire investor George Soros warned the euro may dissolve if European Union leaders fail to curb the region’s debt crisis at a two-day summit. A summit in Brussels starting June 28 is the first meeting of European leaders since the Greek parliamentary elections on June 17. New Democracy leader Antonis Samaras won on his pledge to seek relief from austerity measures imposed on the country while keeping the bailout funds flowing. The Greek prime minister won’t attend the meeting on the advice of his doctors after undergoing surgery to repair a detached retina.
The yen touched a two-month low against the dollar on speculation a plan to double Japan’s sales tax will widen divisions in the nation’s ruling party.
EUR / USD: during the Asian session the pair dropped to the last week's low
GBP / USD: during the Asian session the pair holds in range $1.5575-$1.5590.
USD / JPY: during the Asian session the pair fell to Friday's low.
European data starts at 0600GMT with German construction orders, followed at 0610GMT by consumer confidence. Later on, at 1530GMT, ECB Governing Council member Jens Weidmann is due to participate in a debate, in Hamburg. US data starts at at 1400GMT by New Home Sales.
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