Asian session review: Dollar weakens as Europe, Asia stocks gain

Data released:
03:30     Japan     BoJ meeting announcement    0.00-0.10%    0.00-0.10%    0.00-0.10%
05:00     Japan     Leading indicators composite index (July) preliminary    106.0    105.9    103.2
05:00     Japan     Coincident indicators composite index (July) preliminary    109.0    -    108.8

The dollar fell against the euro, snapping a six-day advance, as stocks gain and the Swiss National Bank’s decision to set a currency ceiling yesterday damped demand for the world’s main reserve currency.
The euro extended gains after Germany’s top court rejected constitutional challenges to the nation’s participation in the region’s rescue funds.
The greenback weakened before a speech by Chicago Federal Reserve President Charles Evans, who said last month he favored more U.S. monetary stimulus.
Australia’s dollar rose after a report showed the economy grew more than analysts forecast.
Second quarter GDP increased to 1.2% versus -0.9% on the previous quarter. The market anticipated an increase to only 1.0%. In year on year terms, GDP increased to 1.4% in Q2 from 1%. This development has cooled expectations of an interest rate cut. 

EUR/USD rose from $1.4000 to $1.4150 before retreated to $1.4092.
GBP/USD rose from $1.5940 to $1.6040 before back to $1.6012.
USD/JPY initially fell from Y77.70 to Y77.10. Later rate was back to Y77.40, but failed to hold and weakened to Y77.15.

Germany's Industrial production report comes at 10:00 GMT.
Later the focus will be on BOC's rate decision at 13:00 GMT.
Japan's international trade and current account will end the day at 23:50 GMT.