- Asian session: The euro gained
Market news
8 March 2011
Asian session: The euro gained
The euro approached a four-month high versus the dollar before data forecast to show a rebound in German factory orders, backing the case for the European Central Bank to raise interest rates before the Federal Reserve.
Europe’s single currency gained on prospects an ECB official will today reiterate willingness to increase borrowing costs as early as next month.
Factory orders in Germany, adjusted for seasonal swings and inflation, climbed 2.5 percent from December, when they slid 3.4 percent, the Economy Ministry in Berlin will probably say today according to economists in a survey.
EUR/USD: the pair shown high in the field of $1,3990 then decreased.
GBP/USD: the pair bargained within the limits of $1,6180-$ 1,6200.
USD/JPY: the pair become stronger in around Y82,40.
Germany releases factory orders data for Jan at 11:00 GMT.
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