Asian session: The yen slid

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The yen slid to a month low against the euro on speculation Bank of Japan Governor Haruhiko Kuroda will reiterate the case for unprecedented monetary easing at the Federal Reserve’s annual conference in Jackson Hole, Wyoming. Kuroda will take part in a panel discussion tomorrow, along with Alexandre Tombini, Brazil’s central bank head, at the three-day Jackson Hole conference. The BOJ doubled its monthly bond purchases to more than 7 trillion yen ($70.7 billion) in April to stoke 2 percent inflation in two years.

The 17-nation euro extended gains against the yen after European Central Bank Governing Council member Ewald Nowotny said good economic news removed the need for further interest-rate cuts.

The U.S. currency was poised for a weekly gain against most major peers as economic data supported the case for the Fed to reduce stimulus.

The pound was set for a weekly drop before Bank of England Governor Mark Carney speaks next week. Carney will deliver a speech on Aug. 28 in Nottingham, England. BOE policy maker Martin Weale said it may be “sensible” for the central bank to extend asset purchases in some circumstances, according to an interview published on the Daily Telegraph website on Aug. 21.

EUR / USD: during the Asian session the pair fell to $ 1.3335

GBP / USD: during the Asian session the pair traded in the range of $ 1.5575-05

USD / JPY: during the Asian session the pair rose to Y99.10

Friday sees a quieter data calendar and many will be looking ahead to the Federal Reserve's annual Symposium in Jackson Hole. Early German data sees the released of the detailed Q2 GDP numbers, the Maastricht debt ratios for the first half and the June construction orders data. Back in Europe, at 1330GMT, the Belgium August Business sentiment data will be published, to be followed at 1400GMT by the EMU August flash consumer confidence numbers. UK data to be released at 0830GMT includes the second reading of the UK Q2 GDP data. Also at 0830GMT in the UK, the June Index of Services and the July BBA Lending Data numbers will cross the wires. Media chatter about housing market bubbles is premature.