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The yen climbed against all of its 16 major counterparts as a selloff in emerging markets boosted demand for haven assets. Asian shares fell amid a freefall in the currencies of India and Indonesia, and as tensions in Syria escalated.

The euro was supported ahead of data forecast to show continued improvement in Germany’s business climate. In Germany, Europe’s biggest economy, business confidence probably rose for a fourth month in August. The Ifo institute’s business climate index, based on a survey of 7,000 executives, rose to 107.0 from 106.2 in July, economists predicted ahead of today’s report. The German unemployment rate probably held at 6.8 percent in August, a separate poll before the Aug. 29 data showed. The jobless rate hasn’t been lower than that since May 2012.

The Bloomberg U.S. Dollar Index traded near the highest in three weeks as traders stuck to the view that the American economy is strong enough for the Federal Reserve to begin reducing monetary stimulus in September. In the U.S., the S&P/Case-Shiller index of home prices in 20 cities probably climbed 12.1 percent in June from the same month last year, according to the median forecast in a Bloomberg News survey of economists before the data today. That would follow a 12.2 percent advance in the 12 months ended May that was the biggest since March 2006.

The Australian dollar slid versus all 16 major counterparts as volatility headed for the highest close in six weeks, damping demand for the currency.

EUR / USD: during the Asian session the pair traded in the range of $ 1.3365-90

GBP / USD: during the Asian session the pair traded in the range of $ 1.5560-90

USD / JPY: during the Asian session the pair fell to Y98.00

A light domestic calendar in the UK today with focus on Germany Ifo. BOE Carney speech Wednesday the next domestic interest.