- Asian session: The yen weakened
Market news
9 March 2011
Asian session: The yen weakened
The yen weakened for a second day against the euro before a report that economists said will show German industrial production expanded in January, damping demand for safer assets.
German industrial output expanded 1.7 percent in January from December, when it declined 1.5 percent, according to a survey before today’s report.
Japan’s currency declined after oil prices retreated and data showed South Korean bank lending and Japanese machine orders increased.
The Dollar Index rose for a third day on speculation a Federal Reserve official speaking this week will suggest there is less need for additional purchases of Treasuries.
The Australian dollar fell for a fifth day after a government report showed home-loan approvals dropped the most in a year.
EUR/USD: the pair bargained within the limits of $1,3870-$ 1,3910.
GBP/USD: the pair bargained within the limits of $1,6140-$ 1,6170.
USD/JPY: the pair shown high in the field of Y82,90.
European data includes the 1100GMT release of Germany industrial output, which is expected to grow 1.9% m/m, 11.4% y/y in January.
UK data starts at 0930GMT with BoE Quoted Rates data and also Trade data for January, which is expected to show a total trade balance of -stg3.9 billion, a non-EU trade balance of -stg5.1 billion and global trade balance of -stg8.5 billion.
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