Investing.com - The U.S. dollar is trading higher against most of its major rivals during Thursday Asian session on lingering concerns about the future of the euro common currency scheme.
In Asian trading Thursday, EUR/USD is 0.16% at 1.3052. On Wednesday, Olli Rehn, the European commissioner for economic and monetary affair, said France and Italy could continue to be drags on the euro zone if the two countries do not implement reforms aimed at bolstering their economies.
Rehn said failure to address weaknesses in France could be a serious problem for the euro zone. France is the euro zone’s second-largest economy behind Germany. Italy’s is the region’s third-largest economy. Euro zone GDP is expected to contract 0.3% this year.
USD/JPY fell 0.11% to 99.71 after after Bank of Japan Governor Haruhiko Kuroda signaled that there may not be any additional stimulus measures by the bank in the coming months.
Kuroda said the BoJ has taken all of the measures “necessary” and “possible” to achieve the 2% inflation target in two years.
In a report, BoJ said that Japan’s M2 Money Stock rose 3% last month following a 2.9% increase in February. Analysts expected a march increase of 2.9%. In another report, the Economic and Social Research Institute said that Japan’s core machinery orders rose 7.5% in March following a 13.1% decline in February. Analysts expected a March increase of 6.8%.
BoJ said that Japan’s Corporate Goods Price Index fell to a seasonally adjusted -0.5% last month from -0.1% in February. Analysts expected the index to fall to -0.4% last month.
GBP/USD fell 0.04% to 1.5324 while USD/CHF gained 0.14% to 0.9341. USD/CAD rose 0.08% to 1.0153 on news that the Organization of the Petroleum Exporting Countries produced slightly less crude last month.
AUD/USD fell 0.01% to 1.0543 while NZD/USD gained 0.16% to 0.8591. The U.S. Dollar Index is up 0.09% at 82.68.
In Asian trading Thursday, EUR/USD is 0.16% at 1.3052. On Wednesday, Olli Rehn, the European commissioner for economic and monetary affair, said France and Italy could continue to be drags on the euro zone if the two countries do not implement reforms aimed at bolstering their economies.
Rehn said failure to address weaknesses in France could be a serious problem for the euro zone. France is the euro zone’s second-largest economy behind Germany. Italy’s is the region’s third-largest economy. Euro zone GDP is expected to contract 0.3% this year.
USD/JPY fell 0.11% to 99.71 after after Bank of Japan Governor Haruhiko Kuroda signaled that there may not be any additional stimulus measures by the bank in the coming months.
Kuroda said the BoJ has taken all of the measures “necessary” and “possible” to achieve the 2% inflation target in two years.
In a report, BoJ said that Japan’s M2 Money Stock rose 3% last month following a 2.9% increase in February. Analysts expected a march increase of 2.9%. In another report, the Economic and Social Research Institute said that Japan’s core machinery orders rose 7.5% in March following a 13.1% decline in February. Analysts expected a March increase of 6.8%.
BoJ said that Japan’s Corporate Goods Price Index fell to a seasonally adjusted -0.5% last month from -0.1% in February. Analysts expected the index to fall to -0.4% last month.
GBP/USD fell 0.04% to 1.5324 while USD/CHF gained 0.14% to 0.9341. USD/CAD rose 0.08% to 1.0153 on news that the Organization of the Petroleum Exporting Countries produced slightly less crude last month.
AUD/USD fell 0.01% to 1.0543 while NZD/USD gained 0.16% to 0.8591. The U.S. Dollar Index is up 0.09% at 82.68.