Yen Rebounds as Stocks Swing Before ECB; Oil Slips With Platinum

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Japan yen rebounded from a one-month low and Asian stocks fluctuated before a European Central Bank monetary-policy announcement. Oil fell and platinum led precious metals lower.

The yen gained 0.2 percent to 102.57 versus the dollar at 11:29 a.m. in Tokyo, while the euro traded near its lowest since February. The MSCI Asia Pacific Index was little changed, while futures on the Standard & Poor��s 500 Index fluctuated after the U.S. gauge closed at a fresh record. Oil in New York lost 0.3 percent and platinum retreated 0.5 percent.

The ECB may become the first major central bank to take rates negative today as President Mario Draghi seeks to ward off deflation after data showed growth in the 18-nation region slowed in the first quarter. U.S. initial jobless claims increased last week and the unemployment rate rose in May, data today and tomorrow will show, after service industries expanded at the fastest pace in nine months in May. A gauge of China��s non-manufacturing sector fell in May, HSBC Holdings Plc said.

Source : Bloomberg