Asian session: The euro rose

The euro rose versus most of its 16 major counterparts before finance ministers from the 17-nation currency bloc resume talks on aid for Greece next week. Euro-area finance ministers said a further meeting on Greece had been arranged for Nov. 26 and that only technical problems are holding up a deal. “We have a series of options on the table on how to close the financing gap,” German Finance Minister Wolfgang Schaeuble told reporters in Brussels yesterday. “We discussed the issue very intensively, but since the questions are so complicated we didn’t come to a final agreement.”

The Japanese currency touched a seven-month low amid speculation the nation’s opposition party advocating “unlimited” monetary stimulus will win power in elections next month and as gains in Asian equities curbed demand for haven assets. The LDP pledged yesterday to achieve nominal economic growth of 3 percent and set an inflation target with the Bank of Japan (8301) should it win next month’s vote.

Australia’s currency climbed after a private report signaled China’s manufacturing may expand this month. HSBC Holdings Plc and Markit Economics said today that their purchasing managers’ index for China’s manufacturing was at 50.4 in November on a preliminary reading, compared with a final level of 49.5 in October. The 50 level divides expansion from contraction.

EUR / USD: during the Asian session, the pair rose to $ 1.2870.

GBP / USD: during the Asian session, the pair rose to $ 1.5970.

USD / JPY: during the Asian session the pair fell, retreating from the previous day's high.