The
euro snapped a two-day gain before data this week that may show the region’s
factory output dropped and growth slowed, fanning speculation the European
Central Bank will take more measures after a rate cut last week.
The
yen was near a two-month low before Bank of Japan board member Ryuzo Miyao
speaks today amid speculation the central bank will add to stimulus next year.
The pound remained lower following a three-day slide before the Bank of England
publishes economic forecasts in its quarterly Inflation Report today.
The
euro was at $1.3434 at 9:59 a.m. in Tokyo after strengthening 0.5 percent in
the previous two days to $1.3436. The yen was little changed at 99.63 per
dollar after touching 99.80 yesterday, the weakest since Sept. 13. It traded at
133.83 per euro after a 0.7 percent slide to 133.87 yesterday.
Sterling
lost 0.1 percent to $1.5889 after declining 1.2 percent since Nov. 7.
Factory
production in the 17-nation euro region probably fell 0.3 percent in September
from August, when it rose 1 percent, according to the median estimate of
economists in a Bloomberg News survey. The European Union’s statistics office
will report the figure today.
That’s
followed by data tomorrow probably showing the euro-area economy expanded 0.1
percent in the three months through Sept. 30, based on a separate Bloomberg
poll of economists. The region grew 0.3 percent in the second quarter, marking
an end to a record-long recession.
(Source: Bloomberg)
Thanks jab
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