Asian session: The yen rose

02:55 Japan BOJ Governor Haruhiko Kuroda Speaks

The yen rose against all major peers as stocks reversed an earlier advance and Bank of Japan Governor Haruhiko Kuroda said the central bank had announced sufficient monetary easing. "Investors have bought both Japanese stocks and dollar-yen, so when the equities are sold, the pair is susceptible to a drop," said Hiroshi Yoshida, a senior portfolio manager in Tokyo at MassMutual Life Insurance Co. "Position adjustments are more likely before the three-day holiday."

The dollar strengthened versus most of its counterparts before U.S. data that economists say will show durable goods orders and consumer confidence rose, backing the case for the Federal Reserve to slow stimulus.

German business confidence was probably unchanged in May after two monthly declines amid doubts over the economic recovery.

The Ifo institute's business climate index, based on a survey of 7,000 executives, will remain at 104.4, according to the median of 44 forecasts in a Bloomberg News survey. Ifo releases the report at 10 a.m. in Munich today.

EUR / USD: during the Asian session the pair fell to $ 1.2900

GBP / USD: during the Asian session the pair fell to $ 1.5060

USD / JPY: during the Asian session the pair fell below Y101.50

There is a full calendar on Friday for markets to concentrate on, with a raft of early data from the eurozone. At 0600GMT, the latest German fiscal and economic report is due, along with the detailed first quarter GDP data. At 0610GMT, the June GFK consumer sentiment indicator will be released. French data is expected at 0645GMT, with the release of the May business climate indicator, along with the May manufacturing and service sentiment indicators. At 0700 GMT, the Spanish April PPI numbers will cross the wires. At 0730GMT, German Finance Minister Wolfgang Schaeuble takes part in a conference with finance ministers of Germany's regional states, while at 0800GMT, German Economics Minister Philipp Roesler and IEA executive director Maria van der Hoeven deliver a joint press conference. Possibly the main Euro area release of the day will be the German May IfO release at 0800GMT. Also at 0800GMT, the Italian May ISTAT consumer confidence survey is out.