User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday August 30, 2010 - 11:39:37 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Yen up broadly, no imminent FX action seen

7:11am EDT

* Yen gains as BOJ signals Japan action on FX not imminent

* BOJ announces tweaks to fixed rate fund supply scheme

* BOJ's Shirakawa: policy steps not bound by yen, stocks

By Jessica Mortimer

LONDON, Aug 30 (Reuters) - The yen rose broadly on Monday after the Bank of Japan failed to signal aggressive monetary easing measures to help curb yen strength at an emergency meeting, choosing only to expand a fund supply scheme.

Investors saw the moves as a symbolic gesture that will do little to halt the currency's climb, putting the onus on the Japanese government to act if the yen continues to rally. [ID:nTOE67S01V]

The yen hit the day's high against the dollar and the euro after Bank of Japan Governor Masaaki Shirakawa said after meeting Prime Minister Naoto Kan that Kan had not made any requests on the central bank's monetary policy.

He also refused to comment on recent currency moves, following the yen's rally to a 15-year high against the dollar and a nine-year peak versus the euro last week, which some investors took as a green light to keep buying the yen.

"At the end of the day, the extension of the loan program and the economic measures are too tepid to spark a dramatic reversal of yen strength," said Roberto Mialich, currency strategist at Unicredit in Milan.

Kan said the government would compile steps to help the economy using 920 billion yen in budget reserves. [ID:nTKG006847]

Earlier in the day, Shirakawa had said policy steps will not be bound by moves in the yen and stocks and that the rise in the yen was due to investor risk aversion. [ID:nTKZ006509]

The BOJ's move and the official comments encouraged investors to add to long yen positions as the comments were seen as an indication that FX intervention by Japan was not imminent.

By 1032 GMT, the dollar JPY= had slipped 0.7 percent on the day to a session trough of 84.62 yen, according to Reuters data. It tumbled from the day's high around 85.90 yen hit before the BOJ announced its policy decision.

"People are once again putting on short dollar/yen positions, having reduced their long exposure ahead of the meeting," said Niels Christensen, currency strategist at Nordea in Copenhagen.

A trader in London said that stop-loss orders to sell the dollar under 84.90 yen helped to accelerate the U.S. currency's slide.

The euro EURJPY=R fell roughly 1 percent to around 107.50 yen. The shared currency's losses against the yen pulled it down 0.4 percent to $1.2700 EUR=.

Aside from the yen, currency movements were limited in European trade, with London markets closed for a holiday.

Against a basket of currencies, the dollar .DXY dipped 0.1 percent to 82.842, while the Australian and New Zealand dollars were little changed versus their U.S. counterpart.


Analysts expect the yen to rise further against the dollar if expectations mount that the Federal Reserve will act to spur growth down the road, moving more aggressively than the BOJ.

U.S. Federal Reserve Chairman Ben Bernanke said on Friday the economic recovery has weakened more than expected and the Fed stands ready to act if needed to spur slowing growth. [ID:nN27258237]

Data from the Commodity Futures Trading Commission showed investors increased long positions in the yen and the Swiss franc in the week to Aug. 24 as worries about a slowing global economy encourage investors to seek perceived safe-haven currencies. [IMM/FX]

Last week, the dollar fell to 83.58 yen on trading platform EBS, its weakest since 1995, on falls in U.S. Treasury yields and fears of a double-dip U.S. recession.

Sterling GBP=D4 rose 0.2 percent to $1.5560, supported after better-than-expected UK economic growth numbers on Friday. [ID:nLDE67Q0PR]

(Additional reporting by Naomi Tajitsu; Editing by Ruth Pitchford)

© 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