Asian session: The dollar was set for the biggest weekly slide in eight months

01:30 China PPI y/y March -2.0% -2.2% -2.3%

01:30 China CPI y/y March +2.0% +2.5% +2.4%

The dollar was set for the biggest weekly slide in eight months against a basket of its major peers as the Federal Reserve’s meeting minutes damped speculation that U.S. interest rates will rise. Fed policy makers cut monthly bond purchases last month by $10 billion to $55 billion. After concluding the two-day policy meeting on March 19, Fed Chair Janet Yellen said the central bank may start to increase interest rates “around six months” after ending its asset-buying program.

The greenback held a four-day decline against the euro before U.S. data that economists say will show inflation pressures are still subdued. U.S. producer prices probably rose 1.1 percent in March from a year earlier, economists forecast in a Bloomberg News survey before the figure is released today. That compares with a 0.9 percent increase in February, which matched the lowest level since at least November 2010.

The Australian and New Zealand dollars dropped as a decline in Asian shares damped demand for higher-yielding currencies.

EUR / USD: during the Asian session, the pair rose to $ 1.3900

GBP / USD: during the Asian session the pair fell to $ 1.6765

USD / JPY: during the Asian session, the pair rose to Y101.75

UK construction data at 0830GMT the morning focus.