European session: The euro weakened after weak German factory orders

Data:

11:00 Germany Factory Orders s.a. (MoM) -3.4%

11:00 Germany Factory Orders n.s.a. (YoY) +21.9%

The euro weakened against the dollar after data showed German factory orders fell more than analysts estimated in December.

German factory orders dropped 3.4 percent from November the Economy Ministry in Berlin said today. Economists forecast a 1.9 percent decline, according to the median of estimates in a survey.

The pound rose on speculation the Bank of England will be forced to raise interest rates to contain inflation.

The pound rose before a report likely to show U.K. manufacturing expanded for an eighth month in December. Output rose 0.4 percent after a 0.6 percent gain in November, the Office for National Statistics is predicted to say Feb. 10.

On the same day, the Bank of England is forecast to keep its bond-purchase plan at 200 billion pounds ($323 billion) and leave benchmark rates at a record low 0.5 percent, according to economists in a Bloomberg News survey.

EUR/USD: the pair receded from the reached session high in the field of $1,3630. At the moment the rate test support in the field of $1,3540.

GBP/USD: the pair shown high in the field of $1,6180 then decreased in around $1,6100.

USD/JPY: the pair bargained within the limits of Y82,15-Y82,50.

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