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Pound Declines Against Most Majors



The pound slipped against most major currencies in Asian deals on Thursday. The pound dropped to a 2-day low of 1.6943 against the greenback, compared to Wednesday's closing quote of 1.6949. The pound edged down to 1.4843 against the franc and 0.8211 against the euro. If the pound continues its downtrend, it is likely to find support around 1.68 against the greenback, 1.475 against the franc and 0.83 against the euro.

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U.S. Dollar Advances Against Majors



The U.S. dollar strengthened against its major rivals in Asian deals on Friday.
The greenback climbed to 0.8811 against franc, its highest since May 2. Against the euro and the pound, the greenback hit a weekly high of 1.3831 and a 3-day high of 1.6919, respectively.
Rebounding from an early low of 101.54 against the yen, the greenback edged up to 101.75.
The greenback may possibly face resistance around 102.5 against the yen, 0.89 against the franc, 1.375 against the euro and 1.68 against the pound.

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Euro At Near 3-month Low Against Pound



The euro drifted lower against the pound in Asian deals on Monday. The euro slipped to 0.8158 against the pound, a level unseen since February 17. If the euro extends slide, it may face support around the 0.81 area. The pair was worth 0.8165 at Friday's close.

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South Korea Export Prices Dip 2.5% In April



Export prices in South Korea were down 2.5 percent on month in April, the Bank of Korea said on Wednesday, after easing 0.4 percent in March. On a yearly basis, export prices dropped 7.3 percent after shedding 4.3 percent in the previous month. Import prices also were down 2.5 percent on month following the 0.5 percent fall in the previous month. On a yearly basis, prices tumbled 7.0 percent after shedding 4.5 percent a month earlier.

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Yuan Rises To 8-day High Against U.S Dollar



The yuan strengthened against the U.S dollar in the early Asian session on Thursday. Against the greenback, the yuan rose to an 8-day high of 6.2250, up from yesterday's closing quote of 6.2292. The next possible upside target of the yuan is seen at 6.21. The People Bank of China set today's central parity rate for yuan at 6.1653. per dollar, compared to Friday's reference rate of 6.1640. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level.

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Yen Little Changed Following Japan Industrial Production Data





Japan's final industrial production data for March was released at 12:30 am ET Friday. Following the data, the Yen little changed against other major currencies. As of 12:32 am ET, the Yen was trading at 139.20 against the Euro, 170.38 against the Pound, 113.98 against the Swiss franc and 101.48 against the U.S dollar.

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Australian Dollar Falls Against Most Majors



The Australian dollar weakened against the most major currencies in the late Asian session on Monday. The Australian dollar fell to a 4-day low of 1.0160 against the Canadian dollar. The pair closed last week's deals at 1.0169. Against the yen, the Australian dollar slipped to 94.86, from early multi-day high of 95.20. The pair closed last week's deals at 95.04. The Australian dollar fell to 1.4652 against the euro and 0.9352 against the U.S dollar, from early multi-day highs of 1.4607 and 0.9376, respectively. The aussie closed last week's deals at 1.4625 against the euro and 0.9364 against the greenback. If the Australian dollar extends its fall, it is likely to find support around 1.00 against the Canadian dollar, 94.54 against the yen, 1.48 against the euro and 0.92 against the greenback.

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Yen Slides Against Majors




The Japanese yen weakened against the other major currencies in early Asian deals on Tuesday. The yen slipped to 113.88 against the franc, 170.81 against the pound and a session's low of 101.59 against the greenback. The yen hit 139.30 against the euro, its lowest since May 16. The yen fell to 93.41 against the loonie, compared to yesterday's closing quote of 93.29. If the yen extends slide, it may face support around 102.00 against the greenback, 172.00 against the pound, 140.00 against the euro, 114.6 against the franc and 93.6 against the loonie.

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Bank Of Japan Maintains Monetary Policy Unchanged



Following the conclusion of a 2-day monetary policy meeting, the Bank of Japan maintained status quo position with respect to its monetary policy. The Monetary Policy Board led by Governor Haruhiko Kuroda opted to persist with its policy of increasing the monetary base at an annual pace of 60-70 trillion yen despite cautioning of a reduction in demand and risk to economic growth due to the sales tax hike that came into effect in April.
The decision was adopted by an unanimous vote. The central bank continued to hold its economic assessment by repeating that the domestic economy is continuing to recover moderately as trend. At the same time, the bank indicated that demand has been hurt by the front-loaded increase before the tax hike. Among the changes observed in the commentary on growth was on public investment, which was termed as having leveled off at a high level.
The inflation commentary was also maintained unchanged. Going forward, the central bank expects the economy to continue a moderate recovery, as a trend, and the annual inflation, excluding the effects of the consumption tax hike, to be around 1.25 percent for some time. There was a dissension with respect to the time frame for the quantitative and qualitative easing, with the majority of the view that the measures have to be persisted as long as the 2 percent price stability target is maintained in a stable manner. Meanwhile, board member Takahide Kiuchi, who dissented, called for a time frame of about 2 years for the easing measures.

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Canadian Dollar Strengthens Against Most Majors



The Canadian dollar advanced against most major opponents in Asian deals on Thursday. The loonie hit a 2-day high of 93.12 against the yen, following a multi-week low of 92.47 touched on Wednesday. The loonie edged up to 1.0904 against the greenback and 1.4915 against the euro. If the loonie extends gain, it may seek resistance around 1.08 against the greenback, 94.00 against the yen and 1.48 against the euro.


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