• Asian session: The dollar slid to an eight-month low

Market news

4 October 2013

Asian session: The dollar slid to an eight-month low

02:30 Japan BoJ Interest Rate Decision 0.10% 0.10% 0.10%

02:30 Japan Bank of Japan Monetary Base Target 270 270

02:30 Japan BoJ Monetary Policy Statement


The dollar headed for a third weekly decline against the yen as the U.S. government shutdown delayed a key jobs report, clouding the outlook for when the Federal Reserve will taper stimulus.

The greenback traded near an eight-month low versus the euro after Atlanta Fed President Dennis Lockhart said the shortage of data “would tend to make me somewhat more cautious” about reducing the pace of bond purchases. U.S. lawmakers still need to agree on raising the debt limit to avoid a default after Oct. 17. The yen strengthened briefly after the Bank of Japan refrained from adding to monetary easing.



EUR / USD: during the Asian session the pair rose to $ 1.3631

GBP / USD: during the Asian session, the pair traded in the range of $1.6150-80

USD / JPY: during the Asian session the pair fell to Y97.00




There is a quieter end to the week Friday, as the US employment report is no longer set for release due to the US government shutdown. The early European data sees the release of the German August PPI data at 0600GMT. Analysts see PPI unchanged on both month and on year. At 0700GMT, ECB Governing Council member Carlos Costa attends a meeting of Portuguese-Speaking Countries' Central Banks, in Lisbon. It is unclear if there will be a press conference of comments. At 0900GMT, the euro area August PPI will be published, with analysts looking for a 0.1% rise on month and a fall of 0.5% on year.

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