Asian session – Dollar drops again while Japanese inflation data positive
October 25, 2013 6:51 am
The dollar continued its drop, making new 2-year lows versus the euro while trying to find a bottom versus the Japanese yen and the British pound.
Towards the end of the Asian session, the euro was up 0.14% to 1.3819, having hit a new high of 1.3830 earlier.
The euro was helped by statements by ECB governing council member Jorg Asmussen, who said he was not worried about current euro levels and that the currency was trading well within its 10-year range.
Looking ahead to the European session, investors will be looking to the German IFO business sentiment survey, after the previous day’s disappointing PMI indices.
The dollar lost 0.17% against the yen to trade at 97.10. In Japan, September CPI matched expectations with a 0.7% annual rise in the core nationwide index.
After adjusting for both food and energy prices, the inflation index was flat year-on-year, which was the first time it did not fall on an annual basis in 5 years.
The Japanese Nikkei stock index fell sharply however as a result of exporters getting hurt by the rebound in the yen.
Sterling rose 0.17% against the dollar to 1.6228, ahead of the announcement of UK’s 3rd quarter GDP data later in the European session.
The dollar continued its drop, making new 2-year lows versus the euro while trying to find a bottom versus the Japanese yen and the British pound.
Towards the end of the Asian session, the euro was up 0.14% to 1.3819, having hit a new high of 1.3830 earlier.
The euro was helped by statements by ECB governing council member Jorg Asmussen, who said he was not worried about current euro levels and that the currency was trading well within its 10-year range.
Looking ahead to the European session, investors will be looking to the German IFO business sentiment survey, after the previous day’s disappointing PMI indices.
The dollar lost 0.17% against the yen to trade at 97.10. In Japan, September CPI matched expectations with a 0.7% annual rise in the core nationwide index.
After adjusting for both food and energy prices, the inflation index was flat year-on-year, which was the first time it did not fall on an annual basis in 5 years.
The Japanese Nikkei stock index fell sharply however as a result of exporters getting hurt by the rebound in the yen.
Sterling rose 0.17% against the dollar to 1.6228, ahead of the announcement of UK’s 3rd quarter GDP data later in the European session.
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