Market news
21.12.2010, 08:44

Asian session: The euro rose

00:01     UK     Gfk consumer confidence (December)    -21    
03:30     Japan     BoJ meeting announcement    0.00-0.10%    
04:30     Japan     All industry index (October)    -0.2%   

The euro rose from near a two-week low against the dollar and yen after Chinese Vice Premier Wang Qishan said his nation had taken “concrete action” to help the European Union with its debt problems.
The single currency strengthened on speculation investments by China, which holds a record $2.65 trillion in foreign-exchange reserves, will ease Europe’s sovereign fiscal crisis and boost the allure of assets in the region.
The yen reached a one-week high versus the dollar on speculation Japanese exporters bought the currency to bring home funds before the end of the year.
Japan’s large manufacturers expect the yen to trade at an average of 86.47 per dollar in the year through March, the highest since the Bank of Japan’s Tankan business-confidence survey included the yen-forecast question in 1996, compared with the 89.66 predicted in September, the survey showed Dec. 15.

EUR/USD: the pair shown high in the field of $1,3200.

GBP/USD: the pair shown high in the field of $1,5560.

USD/JPY: the pair bargained within the limits of Y83,55-Y83,80.

UK data at 0930GMT Tuesday is expected to see the PSNB come in at -stg16.8 billion with PSNCR at stg13.2 billion.

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