European session: the euro fell

Data:

09:30 UK Industrial production (October) -0.7%

09:30 UK Industrial production (October) Y/Y -1.7%

09:30 UK Manufacturing output (October) -0.7%

09:30 UK Manufacturing output (October) Y/Y 0.3%

11:00 Germany Industrial production (October) seasonally adjusted 0.8%

11:00 Germany Industrial production (October) not seasonally adjusted, workday adjusted Y/Y 4.1%

The euro declined after a German government official said the nation rejects proposals to combine current and permanent euro-area rescue funds.

Germany rejects proposals to combine the current and permanent euro-area rescue funds, the government official told reporters in Berlin today on condition of anonymity because the negotiations are private.

The official’s comments came after the Financial Times reported yesterday that EU leaders may agree on a package including the existing 440 billion euro bailout fund and a new 500 billion euro facility.

Economists predict the European Central Bank will cut its benchmark interest rate at a policy meeting tomorrow.

EUR/USD: during european session the pair decreased below $1,3400.

GBP/USD: the pair was in $1.5590-$ 1,5640 area.

USD/JPY: the pair has decreased in Y77.60 area.