(RTTNews) - During early European deals on Monday, the British pound extended its Asian session uptrend against the other major currencies. The pound thus climbed to a 1-week high against the Swiss franc, a 6-day high versus the US dollar and the Japanese yen and a 4-day high against the euro. During early deals on Monday, the British pound traded higher during early deals on Monday. At 3:10 am ET, the pound-dollar pair reached a 6-day high of 1.5001, compared to 1.4757 hit late New York Friday. If the pair gains further, 1.540 is seen as the next target level. The British pound edged higher against the European currency during Monday's early deals. The pound that closed Friday's North American session at 0.8627 against the euro climbed to a 4-day high of 0.8593 at 3:05 am Eastern Time. On the upside, 0.857 is seen as the next target level for the sterling. The British currency extended its Asian session gains against the Swiss franc during early European deals on Monday. The pound-franc pair is currently trading at a 1-week high of 1.8175, compared to Friday's closing value of 1.8011. Against the Japanese yen, the pound hit a 6-day high of 140.03 at 3:20 am ET Monday. The pound-yen pair closed last week's New York deals at 137.10. The next upside target level for the pair is seen around 147. Japan's unadjusted current account surplus was down 56.6 percent on year in October, the Ministry of Finance said on today, standing at 960.5 billion yen. That came in below analyst expectations that predicted a 50 percent decline, and it also marked the eighth straight month of surplus contraction. The current account surplus was 1497.9 billion yen in September and 2206.5 billion yen in October 2007. Japanese bank lending jumped 3.6 percent on year in November, the Bank of Japan said on Monday, marking the fastest rate of increase since April 1992. The October figure was downwardly revised to reflect a 2.3 percent annual increase. The Office for National Statistics or ONS is set to release the UK producer price inflation data for November at 4:30 am ET. Input price annual inflation is expected to slow to 6.9% in November from 13.8% in October. Month-on-month, input prices are forecast to fall 2.6%, following October's 5.6% drop. Further, economists see output prices to grow at a slower pace of 5.6% in November compared to 6.8% in October. (RTTNews) - The Eurozone sentix investor confidence is also due at the same time. The indicator showed a reading of minus 36.4 in November. Thereafter, German industrial production, due from the Federal Ministry of Economics and Technology, is predicted to drop 2.7% year-on-year in October. Meanwhile, production is forecast to decline 1.8% on a monthly basis, slower than the 3.6% decrease in September. by RTT Staff Writer For comments and feedback: contact editorial@rttnews.com

Source