The yen weakened against the euro, snapping a five-day gain, as optimism the global economic recovery is gathering momentum curbed demand for safer assets.
Japan’s currency fell before reports today that economists said will show German import prices rose and Italian retail sales rebounded.
New Zealand’s dollar weakened as economists said a government report tomorrow will show gross domestic product growth almost stalled.
The euro rebounded from near a three-week low versus the dollar as its 14-day stochastic oscillator chart fell to about 13, below the threshold of 20 that signals an asset is poised to reverse direction.
New Zealand’s dollar fell against 15 of its 16 most-traded counterparts. A government report tomorrow will show gross domestic product rose 0.1 percent in the third quarter from 0.2 percent in the previous three-month period, according to a survey.

EUR/USD: the pair shown high in the field of $1,3150.

GBP/USD: the pair bargained within the limits of $1,5455-$ 1,5490.

USD/JPY: the pair shown high in the field of Y83,85 then decreased.


UK data includes the third estimate of Q3 GDP at 0930GMT, which comes along with Total Business Investment, Balance of payments data and also at the same time as the minutes of the latest MPC meeting from the
Bank of England. Expectations for the BoE minutes are for another three-way split of 1-7-1 with the MPC's Posen pushing for further QE and the MPC's Sentance seeking a 25bps rate hike. Traders may also look out
for any comments suggesting some MPC members believe the risks of inflation expectations becoming unhinged have risen in recent weeks. Also, there maybe comments related to potential contagion from the
Eurozone periphery debt problems.
US data starts at 1200GMT with the weekly MBA mortgage applications data, while the main US data starts at 1330GMT with the third release of Q3 GDP, where GDP is expected to be revised up to a 3.0% rate of growth
due to stronger PCE growth, a larger inventory build, and a narrower net export gap than previously estimated. The chain price index is forecast to be unrevised at +2.3%. Analysts have already turned their attention
to the fourth quarter. US data continues at 1500GMT, when the pace of existing home sales is expected to rise to a 4.75 million annual rate in November after dipping in October (NAR). At the same time, the FHFA Home
Price Index and also BLS Mass Layoffs data is due. The EIA weekly crude oil stocks data is due at 1530GMT.