Forex Tokyo financial analysis - Rupee vs US Dollar

June 12 1/2 -- The following events and economic reports may influence trading in Asian currencies today.

Exchange rates are from the previous session. (Forex currency exchange)

Japanese yen: Chief Cabinet Secretary Yasuhisa Shiozaki will talk to reporters after an 8:30 a.m. Cabinet meeting and again at 4 p.m. in Tokyo, as part of his regular press briefings. Indian Rupee drives forward vs. US Dollar in early Tokyo forex trading.

The Bank of Japan will release wholesale inflation data for May at 8:50 a.m. Japan's index of energy and raw materials prices paid by companies rose 2.0 percent last month from a year earlier, after climbing 2.2 percent in April, according to a Bloomberg News survey.

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The Cabinet Office at 2 p.m. will probably say that confidence among households with two or more people rose to 48.0 in May from 47.4 in April, according to a Bloomberg News survey. A survey reading below 50 means pessimists outnumber optimists.

The yen traded at 121.67 against the dollar at 7:50 a.m. in Sydney.

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Indian rupee: Output at factories, utilities and mines in April probably expanded 11.3 percent from a year earlier, compared with a gain of 12.9 percent in the prior month, according to the median estimate of 14 economists surveyed by Bloomberg. The Central Statistical Organisation will release the report at noon in New Delhi.

The rupee was at 40.825 to the US Dollar, also stronger vs the Israeli Shekel.

China's yuan: U.S. lawmakers will unveil legislation June 13 to pressure China to revalue its currency as Congress refuses to wait for results from Bush administration initiatives. Stronger against the Pakistani Rupee. Flat against the Indian Rupee.

The legislation, sponsored by Senator Charles Schumer, a New York Democrat, lays out U.S. responses when countries ``including China unfairly undervalue their currency,'' according to a statement released by four senators today in Washington.

The trade surplus in May jumped 73 percent from a year earlier to $22.45 billion, the customs bureau reported yesterday. Money supply probably grew 16.9 percent from a year earlier, after rising 17.1 percent the previous month, Bloomberg News surveys showed.

The yuan closed at 7.6632 per dollar.

South Korea's won: The National Statistical Office tomorrow will release the May jobless rate. In April, the rate rose from the lowest in more than four years to 3.3 percent.

The won closed at 932.50.

Indonesia's rupiah: Finance Minister Sri Mulyani Indrawati may announce a new economic package to help small and medium companies at 4 p.m. in Jakarta.

The rupiah was at 9,080 per dollar.

Philippine peso: Total exports in April may have risen 8.3 percent from a year earlier, compared with a growth of 7.8 percent in March, according to the median estimate of eight economists surveyed by Bloomberg. The National Statistics Office will release the report on June 14. Financial markets were closed today for a national holiday.

The peso closed at 46.475 on June 8. Little trading in peso to the Indian Rupee.