Asian session: The euro rose
29.03.2011, 08:23

Asian session: The euro rose

The euro rose, snapping a two-day decline versus the dollar, as Asian stocks pared losses and on speculation European Central Bank officials will reiterate their willingness to raise interest rates.
The yen fell against the euro for a second day before reports this week that economists said will show French consumer spending rebounded and U.S. employers added jobs. 
The yen weakened versus 13 of its 16 major counterparts as signs that global growth is quickening reduced demand for the Japanese currency as a refuge.
Losses in the dollar were limited as futures traders boosted bets on higher U.S. rates before Federal Reserve Bank of St. Louis President James Bullard speaks today.
Traders are betting there is a 52 percent chance the Fed will raise U.S. interest rates from near zero at the January 2012 meeting, CME Group Inc. exchange futures show. That compares with 41 percent a week ago.

EUR/USD: the pair become stronger above a mark $1,4100.
GBP/USD: the pair become stronger above a mark $1,6000.
USD/JPY: the pair bargained within the limits of Y81,50-Y81,70.

UK data sees the Bank of England measures of net consumer credit, as well as final M4 Data and also the second revision of Q4 GDP data. Analysts forecast an end to the miserable train of downward revisions to the UK Q4 2010 GDP number, with an unrevised headline number expected. 
US data starts at 1300GMT with the S&P/Case-Shiller Home Price Index and then at 1400GMT, when Conference Board consumer confidence is expected to fall to an index reading of 64.0 in March after jumping to a three-year high in February.

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