FOREIGN EXCHANGE News: USD, EUR, JPY, GBP

Yen was under pressure in early Asian trade on Tuesday on opinion that BoJ might ease its policy later in the week while the euro held firm near four-month high against yen and the USD. The USD traded at 78.63 yen, little changed from late U.S. levels but way above a seven-month low of 77.13 yen hit only last Thursday.

***Euro Falls From 4-Month High Versus Yen Before German Confidence

The euro retreated from its highest level against the yen in four months before data that may add to signs the region's debt concern is weighing on growth. The 17-nation euro weakened versus most major peers before a German report forecast to show investor confidence hovered near the lowest level this year

***Yen May Climb to Record as BoJ Lags Behind Fed

Yen printing by the Bank of Japan is trailing money creation by the Federal Reserve and European Central Bank, boosting risks the Asian nation's currency will rise to record levels,

***Pound Rises for Fifth Day against USD before Inflation Report

The pound rose for a fifth day against the USD before a government report tomorrow that economists said will show consumer prices quickened, fueling opinion the central bank will pause its stimulus program.

***UBS Sees Euro Extending Post-Draghi Advance:

The euro may extend a recent rally by almost 1 % to $1.3254 if the currency closes above a resistance level of $1.3151, UBS AG said.

FOREX

BoE may stop stimulus on end of deflation
German confidence near year lows
EU Ministers disagree on Unified Banking and Rescue fund timelines.
Indian Gov. Passes Retail and Aviation FDI
The INR fell 0.5 % to 54.29 at open may drop to 54.50 on oil demand
Euro Falls From 4-Month High Versus Yen Before German Confidence
UBS Sees Euro Extending Post-Draghi Advance: EUR seen at 1.32

Shayne Heffernan

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.Read the Terms of Service