The JPY, USD and to a slightly lesser degree CHF have firmed in Asian trade. The moves come against a backdrop of heightened risk aversion. Concerns are growing that the outbreak of swine flu will slow recovery of the global economy, and perceived safe havens are being favoured. Asian stocks traded lower, while treasuries rose.
Elsewhere Chrysler LLC has reached a tentative contract agreement with its biggest union United Auto Workers and won ratification of a new accord with Canadian workers.
GM will today provide details on the latest plan to cut costs.
European data for release today:
06:10 GMT: German Gfk consumer confidence (May), expected 2.3
07:30 GMT: Italian consumer confidence index (April) expected 99.8
08:30 GMT: UK BBA loans for house purchase (Mar)