European session:

The yen weakened  against the euro and dollar before U.S. data tomorrow forecast to show employment and housing markets are improving, reducing demand for the safety of Japan’s currency.

U.S. initial jobless claims fell to 370,000 last week from 380,000 in the previous period, according to the economists surveyed by Bloomberg News before the Labor Department data tomorrow. Separate U.S. reports this week are forecast to show manufacturing in the Philadelphia region expanded and existing home sales increased.

The pound strengthened after Bank of England minutes showed policy maker Adam Posen ended his push for further stimulus. Sweden’s krona appreciated as the central bank kept its benchmark interest rate unchanged.

The pound advanced for a second day versus the euro after minutes of the Bank of England’s April 4-5 meeting published today showed Posen joined the majority of the nine-member Monetary Policy Committee in seeking no change to the 325 billion-pound ($517 billion) asset-purchase target.

While officials noted the U.K. may face a recession in the first half of this year, they said inflation might pose more of a danger than previously anticipated.

EUR/USD: the pair showed  low in $1,3160 area.

GBP/USD: the pair grown in $1,5980 area, showed high at $1,6000.

USD/JPY: the pair rose to Y81,50 area then slightly receded.

The weekly EIA crude oil stocks data is due at 1430GMT.