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Core consumer prices in Japan were flat in October from a year earlier, as expected, while the core consumer price index for Tokyo was down 0.3 percent in November, slightly worse than economists' forecasts.
Range for this week: Y117.50-Y120.50
Sterling
Sterling held firm cementing recent gains after Bank of England policy this week signalled that interest rates would likely remain on hold for sometime, dispelling expectations of a cut.
Sterling was supported after BoE policymakers made it clear in testimony to parliament's Treasury Select Committee that they are not about to repeat their quarter point August interest rate cut anytime soon.
Policymaker Kate Barker said in a speech that risks to UK economic growth are to the downside but a recent rise in inflation could still nudge up price expectations in the short term. Lending data and final growth figures for the third quarter released earlier did little to change the view that the cost of borrowing is likely to stick at 4.5 percent.
The Office of National Statistics said the economy grew 0.4 percent in the July-September period, unrevised from an initial estimate released earlier, while the annual growth rate moved up to 1.7 percent from 1.6 percent. In the coming week, investors keenly await the consumer confidence and manufacturing data for clues on the interest rate outlook.
Range for this week: $1.7000-$1.7400
HSBC
