User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday February 26, 2010 - 11:27:35 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Yen pulls back from broad gains, euro rises

6:23am EST

* Yen slips, pulls back from 1-year high vs euro

* Traders cover shorts in euro, high yielders

* Euro rises vs dollar, but Greece concerns limit gains

(Adds comment, details)

By Naomi Tajitsu

LONDON, Feb 26 (Reuters) - The yen slipped on Friday, pulling back from a strong rally this week as traders covered short positions in the euro and higher-yielding currencies.

Traders granted the euro a reprieve after knocking it to a one-year low versus the yen on Thursday, while a climb in European shares helped the single European currency to hit a session high against the dollar.

"The market was caught short (on euros and higher-yielding currencies), so it's not surprising that we're getting a turnaround," said Ned Rumpeltin, currency strategist at Nomura in London.

"The stabilisation in sentiment as seen in the small recovery in stocks is also helping."

Still, the euro's gains were limited at the end of a week which saw volatile intraday movements, and many in the market expect it to remain under selling pressure due to mounting concerns about Greece's fiscal problems.

By 1054 GMT, the euro <EURJPY=R> was 0.7 percent higher on the day at 121.60 yen, clawing back after falling as low as 119.66 yen on electronic trading platform EBS on Thursday, its weakest since February 2009.

The euro is poised to fall roughly 2.5 percent against the yen this week, according to Reuters charts.

Against the dollar <EUR=>, the single European currency rose 0.4 percent to $1.3620, helped by a 0.9 percent rise in European shares <.FTEU3>.

This suggested investors were creeping back into risky assets after a sell-off in such positions on Thursday, when weak U.S. data on jobs and manufacturing raised speculation that the global economic recovery is on shaky ground.

The yen fell across the board, trimming gains after benefitting earlier this week from jitters about the global economic recovery, which prompted investors to pick up the low-yielding currency.

The yen tends to depreciate against higher-yielding currencies when risk demand is buoyant.

Sterling <GBP=D4> fell to a session low of $1.5234 after revised figures on UK growth for the fourth quarter showed the economy contracted by more than expected on a year-on-year basis, despite a stronger-than-forecast quarterly reading.

The high-yielding New Zealand dollar <NZDJPY=R> rose 0.7 percent to 62.02 yen, while the Australian currency <AUDJPY=R> rose 0.5 percent to 79.50 yen. Both currencies recovered after falling to their weakest in around two weeks on Thursday.

"There's been some profit taking against the yen, given its good rally this week," said Kasper Kirkegaard, currency strategist at Danske in Copenhagen.

The dollar <JPY=> rose 0.2 percent higher to 89.25 yen <JPY=>, after hitting a three-week trough of 88.80 hit on EBS on Thursday. The dollar index <.DXY> fell 0.3 percent to 80.495.


Despite the euro's rise on Friday, it stayed close to a nine-month low of $1.3443 hit a week ago and analysts expect more losses on concerns about how Greece will service its debts, and whether it will need support from other euro zone members.

Federal Reserve Chairman Ben Bernanke on Thursday said U.S. regulators are looking into how Wall Street firms helped Athens to arrange derivatives deals that critics say were used to disguise the size of its budget deficits. [ID:nN25251885]

Financing issues facing the country will be in focus ahead of an expected issuance of 10-year government bonds by Greece as it tries to borrow more funds to pay back its debts.

With few major events or data released during European trade, investors awaited a slew of U.S. economic data due during the New York session.

A second reading of fourth-quarter economic growth is due later in the day as well as the Institute of Supply management Chicago's February index of manufacturing activity and the Reuters/University of Michigan poll on consumer sentiment.

A number of Federal Reserve officials will also speak on Friday, after Chairman Ben Bernanke earlier this week said a weak job market and tame inflation warrant low U.S. interest rates for an extended period.

(Editing by Jason Neely, John Stonestreet)

© Thomson Reuters 2010. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.

Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.




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

Tue 31 July 2018
AA JP- Bank of Japan
A 06:00 DE- Retail Sales
A 09:00 EZ- flash HICP/GDP
AA 12:30 US- Core PCE Deflator
A 14:00 US- CB Consumer Confidence
Wed 1 Aug 2018
A Final Mfg PMIs
AA 12:15 US- ADP Private Payrolls
A 15:00 US- EIA Crude
AA 18:00 US- Federal Reserve Decision
Thu 2 Aug 2018
AA 11:00 GB- Bank of England Decision
A 13:30 US- Weekly Jobless
Fri 3 Aug 2018
A Final Services PMIs
AA 12:30 US- Employment
A 12:30 US/CA- Trade

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