The following data
were issued
06:00GermanyCPI (May) final 0.6% 0.6%
0.6%
06:00GermanyCPI (May) final Y/Y 3.0%
3.0% 3.0%
06:00GermanyHICP (May) final Y/Y 3.1%
3.0% 3.0%
08:00ItalyCPI (May) final0.5% 0.5% 0.5%
08:00ItalyCPI (May) final Y/Y 3.6%
3.6% 3.6%
08:00ItalyHICP (May) final Y/Y 3.7%
3.7% 3.7%
09:00EU(15)Labour cost index (Q1) Y/Y
3.3% - 2.9%
The dollar headed for
its biggest weekly gain in more than three years against the euro on speculation officials from the
Group of Eight nations meeting on the weekend will signal they favor a stronger
U.S.
currency.
The euro also fell on concern voters in Ireland
will reject the European Union's new governing treaty designed to boost the
strength of the 27-nation bloc.
The dollar was poised
for the largest weekly advance versus the yen since 2004 before a government report that may
show U.S.
inflation accelerated, giving the Federal Reserve more reason to raise interest
rates.
The yen still headed for its fifth weekly
decline versus the euro, the longest losing streak since October, after the Bank of Japan
concluded a two-day policy meeting in Tokyo by leaving its the key overnight
rate at 0.5%.
The U.S.
currency rebounded from a six-week low versus the euro on June 9 after Paulson
said that he would ``never'' rule out currency intervention.
The dollar
has fallen 13% against the euro in the past year as the Fed lowered its
benchmark rate.
EUR/USD weakened from $1.5443 to session
lows on $1.5310 before rebounding a bit to $1.5334. Bids on $1.5300,
$1.5285/80, options at $1.5250.
GBP/USD opened at $1.9468. Rateheldwithintherange$1.9430/80. Bids
at $1.9430, $1.9410. Offers on $1.9485/00, $1.9520/25.
USD/JPY rose from Y107.65 to Y108.40. Offers
on Y108.40/50 with stо ps above.
At 12:30 GMT CPI report will be released with analysts predict consumer prices in the U.S. rose 0.5% last month after a 0.2% increase in April.