Asian session: The euro was 0.2 percent from a two-week low

01:00 Australia CPI, q/q Quarter I +0.2% +0.7% +0.4%

01:00 Australia CPI, y/y Quarter I +2.2% +2.8% +2.5%

03:30 Australia RBA Assist Gov Lowe Speaks

The euro was 0.2 percent from a two-week low before a German report forecast to show business confidence fell in the currency bloc's largest economy, fueling speculation the European Central Bank will cut interest rates. The Ifo institute's business climate index for Germany, based on a survey of about 7,000 executives, dropped to 106.2 in April from 106.7, according to the median estimate of economists surveyed by Bloomberg News before today's report. A German purchasing managers' index unexpectedly fell yesterday, while the Bundesbank said in its monthly report this week that the nation's recovery may be delayed.

New Zealand's dollar jumped after central bank Governor Graeme Wheeler said growth has picked up. The Reserve Bank of New Zealand left its benchmark interest rate unchanged today at 2.5 percent. The RBNZ "does not want to see financial or price stability compromised by housing demand getting too far ahead of supply," Wheeler said in a statement.

Australia's currency dropped versus all of its major peers after data showed the nation's inflation slowed. In Australia, the so-called trimmed mean gauge of core prices rose 0.3 percent in the first quarter from the previous period, the Bureau of Statistics said in Sydney today, compared with the median forecast of economists of a 0.5 percent gain.

The yen swayed between gains and losses as investors speculated whether comments from the Bank of Japan this week can weaken it to 100 per dollar for the first time in four years.

EUR / USD: during the Asian session the pair traded in a range of $ 1.2985/05

GBP / USD: during the Asian session the pair rose to $ 1.5250.

USD / JPY: during the Asian session the pair fell to Y99.15.