- European session: the yen fell. Fitch Ratings cut Japan’s credit ranking
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European session: the yen fell. Fitch Ratings cut Japan’s credit ranking
Data:
08:30 United Kingdom HICP, m/m April +0.3% +0.6% +0.6%
08:30 United Kingdom HICP, Y/Y April +3.5% +3.1% +3.0%
08:30 United Kingdom HICP ex EFAT, Y/Y April +2.5% +2.2% +2.1%
08:30 United Kingdom Retail Price Index, m/m April +0.4% +0.6% +0.7%
08:30 United Kingdom Retail prices, Y/Y April +3.6% +3.5% +3.5%
08:30 United Kingdom RPI-X, Y/Y April +3.7% +3.5% +3.5%
08:30 United Kingdom PSNB, bln April 15.9 -5.4 -18.8
The yen weakened after Fitch Ratings cut Japan’s credit ranking, saying the nation isn’t acting quickly enough to tackle its public debt burden.
The euro dropped after the Organization for Economic Cooperation and Development said Europe’s debt crisis risks spiraling.
The pound weakened as the International Monetary Fund said the U.K. needs more monetary easing.
EUR/USD: the pair fell in $1,2740 area.
GBP/USD: the pair decreased, reached $1,5770 area.
USD/JPY: the pair rose in Y79.80 area.
US data starts at 1400GMT with NAR existing home sales data, the Richmond Fed Manufacturing Index and also BLS Mass Layoffs data.
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