The yen
fell to a one-month low against the euro as rising stocks spurred
investors to add to holdings of higher-yielding assets funded in
Japan's currency.
The currency also traded near a three-month low versus the Australian
dollar, a favorite for so-called carry trades, as crude oil fell for a
second day and Standard & Poor's 500 Index futures reversed
declines to advance 0.1 percent. The dollar traded near at its highest
in a week against the euro.
``S&P futures were down before and now they are up slightly,'' said
Adrian Schmidt, a senior currency strategist at Royal Bank of Scotland
Group Plc in London. ``People are eager to put on carry trades and the
dollar is generally firmer.''
German stocks gained for a third day, with the benchmark DAX Index
adding 0.7 percent, as oil dropped to $126.50 a barrel on the New York
Mercantile Exchange, the lowest since May 19. Today’s focus on US Durable goods orders at 12:30 GMT. At 15:45 GMT Germany CPI report is schedule to come.