Major

The euro fell against the dollar and the yen in Asian trade, depressed by uncertainty over how European leaders will tackle Greece's debt crisis. The euro dropped to 1.3453 dollars in Tokyo afternoon trade from 1.3498 in New York late yesterday. In early London market today, the onecurrency dropped further to below 1.34, its lowest since May 2009. Speculation mounted that disagreement among E.U. countries would encourage them to push for Greece receiving aid from the International Monetary Fund, instead of trying to craft an internal package. Meanwhile, the dollar gained against a basket of currencies. The US Dollar Index (.DXY) soared to 81.441, highest since June 2009, compared to 80.896 previously ended. Against the yen, the greenback traded stable at 90.56 during Asia trading hours, up from 90.40 on last night trading in New York. However, the dollar rose to 91.17, a one-month high against the yen during London's early trading hours on the safe-haven's sake. Japan's exports surged 45.3 percent from a year earlier to 5,128.67 billion yen in February, led by auto shipments to the US and electronics parts to Asia. It was the third-biggest annual gain on record. The overall trade surplus came to 651.0 billion yen in the month—bigger than market's expectation— soaring from the year-before surplus of 70.8 billion yen.

Forecast:

Market data on durable goods and new home sales will be released tonight. The market expects a better result on new home sales, boosting the greenback's attractiveness. Expected range: 90.50 – 91.50

USD/IDR

The rupiah continues to trade strong amidst foreign investment inflow to the local stocks and bonds markets. The pair was supported by dollar buying demand from corporate, and traded between 9107 - 9135. Meanwhile, rating agency Fitch released a statement that the country's policy reform holds the key to its debt rating upgraded to investment grade. The agency upgraded Indonesia's rating to 'BB+' in Jan 2010, a notch below investment grade, primarily in recognition of the improvements to sovereign credit-worthiness arising from fiscal policy discipline and falling debt ratios. Meanwhile, the results from today's SBI auction are as follows: 2-month at 6.32334%, 3-month at 6.55365% and 6-month at 6.67822%.