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The Japanese yen declined against other major currencies ahead of the European session on Monday.
The yen is worth 94.90 against the greenback, 126.54 against the euro, 148.98 against the pound, 102.73 against the franc, 93.50 against the loonie and 76.82 against the kiwi. Against the aussie, the yen dropped to 91.47 from an early 4-day high of 89.81.
The U.S. dollar, euro and sterling were all in demand on Friday as the prospect of an end to super-easy money from the Federal Reserve drove a mass migration out of emerging markets and into developed world assets.
Fears about the Federal Reserve buying fewer bonds later this year pummeled the U.S. bond market on Thursday, pushing benchmark yields to the highest levels since August 2011, with few signs of when the month-long rout will end.
Gold Inches up As fED Officials Downplay Stimulus Wind-Down
Spot gold rose 0.2 percent to $1,283.55 an ounce by 0018 GMT. It fell around 1 percent on Monday, extending last week's 7 percent slide as fears of a cash crunch in China spooked investors, and a slide in U.S. equities prompted bullion selling to cover margin calls.
-The growth and balance-of-payment fundamentals in Israel are solid but the central bank has already taken steps against appreciation (by intervening) and appears ready to take further steps if the ILS were to rise again. Inflation remains low in Israel and there are no clear restraints on central bank FX intervention, or the imposition of additional macro-prudential measures.
FRIDAY, JUNE 28:
0500 - JAPAN MAY HOUSING STARTS Housing starts for May are expected to rise 6.2 percent compared to 5.8 percent rise in April.
0500 - JAPAN MAY CONSTRUCTION ORDERS No forecast available 0600 - UK NATIONWIDE HOUSE PRICES FOR JUNE Forecast to rise 0.3 percent from a month ago and 2 percent from a year ago.
0645 - FRENCH CONSUMER SPENDING FOR MAY Forecast to drop 0.1 percent from a month ago, compared with a drop of 0.3 percent, prior.
0645 - FRENCH PRODUCER PRICES FOR MAY Forecast to fall 0.3 percent from a month ago, compared with a fall of 0.9 percent, prior.
0700 - SWISS KOF INDICATOR No forecasts available.
0800 - ITALY BUSINESS CONFIDENCE FOR JUNE No forecasts available.
0900 - ITALY CPI (PRELIMINARY) FOR JUNE Forecasts to rise 0.2 percent from a month earlier and 1.1 percent from a year earlier.
1000 - ITALY PRODUCER PRICES FOR MAY No forecasts available.
1200 - GERMAN HICP (PRELIMINARY) FOR JUNE Forecasts to rise 1.8 percent from a year ago and expected to remain unchanged from a month ago.
1200 - GERMAN CPI (PRELIMINARY) FOR JUNE Forecast at 0.0 percent from a month ago and a 1.7 percent rise from a year ago.
1200 - FEDERAL RESERVE BOARD GOVERNOR STEIN SPEAKS, New York Federal Reserve Board Governor Jeremy Stein speaks on "Monetary Policy" before the C. Peter McColough Series on International Economics event at the Council on Foreign Relations.
1315 - FEDERAL RESERVE BANK OF RICHMOND PRESIDENT LACKER speaks, White Sulphur Springs, Virginia Federal Reserve Bank of Richmond President Jeffrey Lacker speaks on the economic outlook before panel, "The Economic Outlook and the Effect on Your Law Practice: A Forecast and Some Professional Advice," at the Judicial Conference of the Fourth Circuit.
1345 - CHICAGO PMI FOR JUNE The Institute for Supply Management Chicago releases June index of manufacturing activity. Economists in a Reuters survey forecast a reading of 56.0 compared with 58.7 in May.
1355 - THOMSON REUTERS/UNIV OF MICH FINAL JUNE CONSUMER SENTIMENT Thomson Reuters/University of Michigan Surveys of Consumers releases final June consumer sentiment index. Economists in a Reuters survey expect a reading of 82.8 compared with 82.7 in the preliminary June report.
1430 - U.S. ECRI WEEKLY Economic Cycle Research Institute releases its weekly index of economic activity for June 21. In the prior week, the index read 130.3.
1600 - CLEVELAND FED'S SCHWEITZER SPEAKS, Wheeling, West Virginia Federal Reserve Bank of Cleveland Senior Vice President Mark Schweitzer speaks before the West Liberty University Economics Club/Wheeling Area Chamber of Commerce Luncheon.
1930 - FEDERAL RESERVE BANK OF SAN FRANCISCO PRESIDENT WILLIAMS SPEAKS, Rohnert Park, California Federal Reserve Bank of San Francisco President John Williams speaks on the economy and monetary policy before the Sonoma County Economic Conference.
SUNDAY, JUNE 30: 2350 - BANK OF JAPAN'S QUARTERLY "TANKAN" SURVEY OF BUSINESS SENTIMENT