Daily Forex Report by Research Via Today 22 March 2013

The yuan closed down against the dollar on Thursday as a slightly weaker central bank midpoint guided the Chinese currency lower from Wednesday's all-time highs, traders said.

Indore, India (prHWY.com) March 22, 2013 - Sterling rises as easing chances fade, susceptible to UK data:
Sterling extended gains on Thursday after market expectation for looser policy from the Bank of England was pushed back as the Britain's finance minister did not change the central bank's remit as drastically as some had anticipated.
The pound was up 0.2 percent on the day against the dollar at $1.5133, not far from the two-week high of $1.5187 hit on Wednesday. Reported option expiries at $1.5100 and $1.5200 could keep the currency pinned to these levels.

Yuan drifts from record highs, market shrugs off US criticism:
The yuan closed down against the dollar on Thursday as a slightly weaker central bank midpoint guided the Chinese currency lower from Wednesday's all-time highs, traders said.
Spot yuan finished at 6.2143 per dollar, down 0.04 percent from Wednesday's close. It was also off Wednesday's record intraday high of 6.2113. Turnover was moderate at $12.56 billion, although that was up from Wednesday's $10.4 billion.

Euro drops to session low vs dollar after French PMI survey:
The euro fell to a session low against the dollar on Thursday after data showed French business activity shrank in March at the fastest pace in four years, defying expectations for an improvement.
The euro dropped to a session low of $1.29225 on trading platform EBS, from around $1.2947 beforehand. Against the yen, the euro was down 0.2 percent at 123.94 yen, easing from around 124.15 before the French PMI survey was released.

Rupee near day's high against dollar:
The rupee was trading at day's high as local stocks showed strong gains. The pair was at 54.22/2250 versus its close of 54.36/37 on Wednesday.

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