The US Dollar rose against the Japanese Yen during trading on Wednesday bringing two days of declines to an end. The greenback edged closer to its recent 2 and a half year highs as looser Bank of Japan monetary policy forced most traders to sell the Japanese currency.
Meanwhile, the Yen's weakness helped lift the Euro higher but the single currency still remains some way off its recent 18-month high set at the start of the month.
The Euro was lower against the Dollar ahead of a European Central Bank (ECB) meeting scheduled for Thursday where the ECB is expected to keep its interest rates on hold on for the time being.
The Yen dropped 0.3% to 88.17 per Dollar and lost 0.3% to 115.12 per Euro.
The Euro dropped by 0.1% to $1.3056, remaining lower ahead of a European Central Bank (ECB) meeting today.
Signs persist of a slowdown in the Euro region's largest economies and ECB President Mario Draghi and his board are expected to keep the main refinancing rate at a record low of 0.75%.
Other data due out today is expected to show that French manufacturing production likely fell 0.2% in November from October, while German figures released on Wednesday had shown that industrial production Germany, Europe's biggest economy, fell short of most economists' estimates.
The Aussie rose to the highest level in more than three weeks as against the U.S. Dollar at $1.0559 after China's exports and imports were shown to have grown more than estimated.
Shipments from China have grown 14.1% in December from a year earlier while imports rose by 6%.
Meanwhile, the Yen's weakness helped lift the Euro higher but the single currency still remains some way off its recent 18-month high set at the start of the month.
The Euro was lower against the Dollar ahead of a European Central Bank (ECB) meeting scheduled for Thursday where the ECB is expected to keep its interest rates on hold on for the time being.
The Yen dropped 0.3% to 88.17 per Dollar and lost 0.3% to 115.12 per Euro.
The Euro dropped by 0.1% to $1.3056, remaining lower ahead of a European Central Bank (ECB) meeting today.
Signs persist of a slowdown in the Euro region's largest economies and ECB President Mario Draghi and his board are expected to keep the main refinancing rate at a record low of 0.75%.
Other data due out today is expected to show that French manufacturing production likely fell 0.2% in November from October, while German figures released on Wednesday had shown that industrial production Germany, Europe's biggest economy, fell short of most economists' estimates.
The Aussie rose to the highest level in more than three weeks as against the U.S. Dollar at $1.0559 after China's exports and imports were shown to have grown more than estimated.
Shipments from China have grown 14.1% in December from a year earlier while imports rose by 6%.
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