Asian session: The yen strengthened against most counterparts

01:00 Australia Consumer Inflation Expectation April +2.1% +2.4%

01:30 Australia Unemployment rate March 6.0% 6.0% 5.8%

01:30 Australia Changing the number of employed March 47.3 14.3 18.1

02:00 China Trade Balance, bln March -23.0 -0.9 +7.7

The yen strengthened against most counterparts while the Australian dollar pared gains after China reported an unexpected drop in imports and exports, fueling concern about demand for commodities. China’s overseas shipments declined 6.6 percent from a year earlier, the customs administration said today, attributing the drop partly to distortions from inflated data in early 2013. Imports fell 11.3 percent, leaving a trade surplus of $7.71 billion.

The U.S. dollar slid to a five-month low versus a basket of peers before a Federal Reserve policy maker speaks after central-bank minutes undercut prospects for an increase in interest rates. Janet Yellen said following the March meeting that the bank may start to increase interest rates “around six months” after ending its asset-buying program. The U.S. central bank cut monthly bond purchases by $10 billion to $55 billion last month. The Fed is winding down stimulus it has used to support the economy, while keeping its target for overnight lending between banks in a range of zero to 0.25 percent since 2008.

Chicago Fed President Charles Evans will participate in a panel discussion in Washington today.

The Aussie rose after employers added more than seven times as many jobs as forecast. The nation’s statistics bureau said employers added 18,100 jobs compared with the forecast for 2,500 additions. The jobless rate fell to 5.8 percent, the lowest level since November and the first decline in six months.

New Zealand’s dollar touched its highest level since 2011. The nation’s manufacturing expanded last month to the highest level since July, according to the Performance of Manufacturing Index compiled by the Bank of New Zealand Ltd. and Business NZ.

EUR / USD: during the Asian session, the pair rose to $ 1.3870

GBP / USD: during the Asian session, the pair rose to $ 1.6820

USD / JPY: during the Asian session, the pair rose fell below Y102.00

BOE rate announcement at 1100GMT the domestic interest, though no change widely expected.