User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday March 10, 2008 - 20:41:17 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Yen, Swiss franc rise on higher risk aversion

Mon Mar 10, 2008 4:18pm EDT

(Recasts, updates prices, adds comment, changes byline)

By Gertude Chavez-Dreyfuss

NEW YORK, March 10 (Reuters) - The yen and Swiss franc firmed broadly on Monday as U.S. stocks fell on credit-related worries, prompting investors to reduce exposure to risky assets and unwind trades funded by the Japanese and Swiss currencies' low rates.

The yen approached eight-year highs against the dollar while the Swiss franc rose to roughly two-year peaks against the euro and was within striking distance of its record high against the greenback.

The dollar, meanwhile, steadied against the euro after Europe's top monetary officials expressed concern about excessive movements in currency exchange rates.

In the stock market, U.S. equities fell, led by financial shares such as Ambac Financial (ABK.N: Quote, Profile, Research), down 23 percent and Bear Stearns (BSC.N: Quote, Profile, Research), which fell 11 percent.

"Risk aversion is definitely a function of the market, with North American equities trading heavily today," said Shane Enright, a currency strategist at CIBC World Markets in Toronto.

"The carry currencies are struggling -- the New Zealand and Australian dollars. And the yen is usually a beneficiary of higher risk aversion and it has continued to strengthen," he added.

The greenback hit a session low of 101.57 yen <JPY=>, just shy of Friday's eight-year low around 101.40 yen, before edging back in late afternoon to 101.75 yen, down 0.9 percent on the day.

Traders said they were keeping an eye on the key 100-yen level against the dollar last seen more than a decade ago.

"The elevated state of nervousness in the market means a move to 100 yen looks inevitable," said Omer Esiner, market analyst at Ruesch International in Washington.


The euro fell to one-week lows against the yen to 155.96, before trading back up to 156.10 <EURJPY=>, still down 1 percent from late on Friday.

The high-yielding Australian <AUDJPY=> and New Zealand dollars <NZDJPY=> fell 2.1 percent and more than 1 percent against the yen, respectively.

The Swiss franc, meanwhile, climbed against the euro, which fell to 1.5621 <EURCHF=>, the lowest since July 2006. The currency pair last traded at 1.5644, down 0.6 percent. The dollar dropped 0.6 percent against the Swiss franc to 1.0192 <CHF=>. On Friday, the greenback hit a record low at 1.0136 Swiss francs.

The dollar, on the other hand, was up slightly against the euro, which traded at $1.5347. The euro had hit a record peak against the dollar Friday around $1.5459, following a report showing the U.S. economy unexpectedly shed 63,000 jobs last month.

The euro's surge was also halted on Monday, after European Central Bank President Jean-Claude Trichet said the central bank was concerned about "excessive exchange rate moves."

His comments were echoed by Klaus Regling, director-general of the European Commission's monetary affairs department, and Joaquin Almunia, the European Economic and Monetary Affairs Commissioner. For stories, see [ID:nBRU006387] and [ID:nL10840278].

A spate of dismal U.S. economic data, capped by Friday's payrolls report, has stoked recession concerns and left investors ready for more rate cuts, either at the Federal Reserve's next policy meeting on March 18 or sooner.

Goldman Sachs said in a research note Monday an emergency Fed cut is possible ahead of March 18. It changed its view on Fed policy on Friday after the U.S. payrolls data. (Additional reporting by Steven C. Johnson; Editing by Jonathan Oatis)

© Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.


Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."

Actionable trading levels delivered to YOUR charts in real-time.

Register To Test Your Amazing Trader

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 9 July 2018
AA 12:00 EZ- Draghi EU Parliament Testimony
Tue 10 July 2018
AA 08:30 GB- Ind/Prod Output, Trade
AA 09:00 DE- ZEW Survey
Wed 11 July 2018
A 12:30 US- PPI
A 14:00 CA- Bank Of Canada Decision
A 14:30 US- EIA Crude
Thu 12 July 2018
AA 12:30 US- CPI
Fri 13 July 2018
A 14:00 US- Prelim University of Michigan
John M. Bland, MBA
co-founding Partner,

Global-View Affiliate Program

We are starting an affiliate program to market some of our products.

Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.

Put the word "affiliate" in the email subject line.

Contact us

Start trading with forex broker Markets Cube

Max McKegg's Daily Forex Trading Forecasts

Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.

Request a TRIAL of Max's Forex Service.


Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map

Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.



By using this website, you are agreeing to our Privacy Policy and Terms of Use, and Cookie Policy

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105