Asian session: The dollar fell versus the yen

00:00 France Bank holiday

00:00 Germany Bank holiday

00:00 Switzerland Bank holiday

01:00 Australia HIA New Home Sales, m/m March -5.3% +4.2%

01:00 China Manufacturing PMI April 50.9 50.8 50.6

01:30 Japan Labor Cash Earnings, YoY March -0.7% -1.0% -0.6%

03:25 Australia RBA Assist Gov Edey Speaks

The dollar fell versus the yen for a fifth day, the longest losing streak since September, on speculation the Federal Reserve won't slacken its bond-buying program to cap borrowing costs as the economy loses momentum. The Fed, which concludes a two-day meeting today, is buying $85 billion of bonds a month in the third round of its quantitative-easing strategy to put downward pressure on borrowing costs.

The greenback was 0.2 percent from a almost two-week low against the euro before a report today forecast to show U.S. private employers added the fewest jobs in six months. Private employment rose by 150,000 in April after gaining 158,000 the previous month, data from the Roseland, New Jersey- based ADP Research Institute will probably show, according to the median estimate of economists surveyed by Bloomberg News. U.S. payrolls increased by 148,000 workers after an 88,000 gain in March, a separate survey forecasts before a May 3 Labor Department report.

Australia's dollar fell for a second day versus Japan's currency as Chinese data showed manufacturing growth slowed in the South Pacific nation's largest trading partner. China's manufacturing purchasing managers index slipped to 50.6 in April from 50.9 the month before, according to a report from the National Bureau of Statistics and China Federation of Logistics and Purchasing. A reading above 50 indicates expansion.

EUR/USD: during the Asian session the pair traded in the range of $ 1.3155-80

GBP/USD: during the Asian session the pair traded in the range of $ 1.5525-45

USD/JPY: during the Asian session the pair fell to Y97.05.

The UK calendar gets underway at 0600GMT, with the release of the April Nationwide House Price Index. Analysts are looking for a modest uptick in prices, as the Spring boost and recent surveys both suggest increased strength in the market. At 0828GMT, the April CIPS/Markit Manufacturing PMI data will be released. At 1000GMT, BOE MPC member Ben Broadbent is set to give a speech In London. US employment data/components remain a key driver with this afternoon's ADP and PMI and ISM releases in focus ahead of tonight's FOMC and Friday's NFP. Thursday's ECB rate decision, with many forecasting a cut of

25bps, remains in the background.