Forex: Thursday's review

The Swiss franc climbed to a record against the dollar and the yen strengthened to an almost three- week high as the uprising in Libya drove oil to a 29-month high, spurring demand for the safest assets.

Crude for April delivery topped $103 per barrel in New York, the highest since September 2008. Brent crude oil futures rose in London to $119.79 a barrel, the most since August 2008.

Currencies of commodity exporters such as Australia and Canada climbed.

reached the lowest in three weeks versus the euro amid speculation the European Central Bank will raise interest rates before the Federal Reserve. The yen breached 82 per dollar for the first time since Feb. 8 as U.S. Treasury yields traded near three-week lows, dimming the attraction of dollar-denominated assets.

EUR/USD: on results of yesterday's session the pair become stronger in around $1,3800.

GBP/USD: on results of yesterday's session the pair decreased in around $1,3800.

USD/JPY: on results of yesterday's session the pair decreased below mark Y82,00.

In the UK, the first revision of Q4 GDP data is due at 0930GMT and while there is some talk of it being revised higher, the median forecast at -0.5% q/q, 1.7% y/y.

Friday sees the flash HICP releases from the German states for February, where the main pan-German number is expected to come in at 0.6% m/m, 2.2% y/y.

US data starts at 1300GMT with the latest Building Permits Revision, while at 1330GMT, Q4 GDP is expected to be revised up to a 3.4% rise on slightly stronger non-residential fixed investment, offset by modestly weaker PCE. The remaining components should be roughly unrevised. The chain price index is expected to be unrevised at +0.3%. US data continues at 1455GMT, when the Michigan Sentiment index is expected to be unrevised at a reading of 75.1 in February, still above the 74.2 January reading. Later on, at 1830GMT, Fed Vice Chair Janet Yellen delivers a speech on unconventional monetary policy to the University of Chicago forum in New York.

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