During early deals on Monday, the euro climbed to a new multi-month high against the Japanese yen and new multi-day high against the US dollar. The European currency also showed strength against the Swiss franc but edged down against the UK currency.
The euro advanced to its highest level since October 20, 2008 against the Japanese yen during Monday's early Asian trading. At about 9:30 pm ET, the euro-yen pair reached 137.08, compared to 135.27 hit late Friday in New York. On the upside, the next likely target level for the euro is seen around 139.3.
A report from Japan's Economic and Social Research Institute said the leading index decreased to 75.2 in February from 77.2 in the previous month. Economists expected the indicator to come in at 75.3.
At the same time, the coincident index declined to 86.8 from 89.5 in January. Economists expected a reading of 86.9.
Against the US currency, the euro hit a 10-day high of 1.3583 during this time period. If the European currency rises further, 1.373 is seen as the next likely resistance level. The euro-dollar pair closed last week's deals at 1.3492.
No economic reports are due from the US today. The Fed governor Kevin Warsh will speak about the financial markets at a conference in Washington D.C. at 1:00 pm ET.
The euro that closed Friday's deals at 1.5247 against the Swiss franc climbed to hit as high as 1.5282 during Monday's early trading. The next immediate resistance level for the pair is seen at 1.53.
On the other hand, the euro showed weakness against the British pound during today's early trading. The euro hit as low as 0.9079 against the pound by about 10:05 pm ET, compared to 0.9092 hit late Friday in New York. The European currency may test support around the 0.895 level, if it ticks down further.
At 4.30 am ET, the Eurozone sentix investor confidence is due. The index is expected to rise to minus 40.4 in April from minus 42.7 in March.
Thereafter, Eurozone producer prices and retail sales reports are due from the Eurostat. Producer prices are forecast to drop 1.5% annually in February, following a 0.5% decrease in January. Meanwhile, the index is predicted to drop 0.5% from previous month.
At the same time, retail sales in the 16-nation bloc is forecast to decline 2.5% in February from the previous year, compared to 2.2% decrease in January. Month-on-month, sales are expected to fall 0.4%.
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