User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 7, 2010 - 21:11:11 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Dollar rises on euro zone fears; yen at 15-year high

4:37pm EDT

* Euro hit as Europe banking concerns rekindled

* Dollar rises on flight to safety

* Yen rise as traders watch for intervention

* Swiss franc hits record versus euro (Adds quote, details, updates prices)

By Wanfeng Zhou

NEW YORK, Sept 7 (Reuters) - The U.S. dollar rose against most major currencies but fell to a 15-year trough versus the yen on Tuesday as renewed concern about the health of European banks sparked aversion to risk.

World stocks retreated and the euro weakened broadly after a Wall Street Journal report said that recent stress tests of European banks sector underestimated some lenders' holdings of potentially risky government debt.

The yen was also bolstered after comments by Bank of Japan Governor Masaaki Shirakawa increased speculation that Japan was not preparing to act to stem the yen's strength in the near term.

"Equity is the quickest reflection of overall market confidence, and I will say that market confidence remains low," said Firas Askari, head of FX trading at BMO Capital Markets in Toronto. "So you are seeing a renewed, somewhat flight to quality and the U.S. dollar is bid across the board."

In late New York trading, the euro EUR= slipped 1.4 percent to $1.2689. It had earlier hit a session low of $1.2682, according to electronic trading platform EBS, well off a three-week high of $1.2920 hit on EBS on Monday EUR=EBS.

Worries about the banking sector saw yield spreads between peripheral euro zone government bonds and their German counterparts -- considered the safest in the euro zone -- widen, with Portuguese and Irish spreads in focus.

Traders said the focus was turning to significant option expiries on Thursday, when an estimated 1 billion euros are set to roll off at $1.2600.

A spike in risk aversion boosted the Swiss franc, pushing the euro EURCHF= 1.6 percent lower to 1.2818 francs. The pair hit a record low of 1.2812 francs, according to Reuters data. The dollar CHF= was down 0.2 percent at 1.0100 francs.


Against the yen, the dollar hit a 15-year low of 83.52 yen, according to Reuters data JPY=, and last traded at 83.78 yen, down 0.5 percent. The euro fell 1.9 percent to 106.33 yen EURJPY=.

The Bank of Japan's Shirakawa said monetary authorities could not control forex rates, increasing speculation that Japan was not preparing to act to stem the yen's strength at the moment. [ID:nTOE68606B]

Shirakawa "has essentially ruled out intervention in the near term," CitiFXWire analysts said in a client note, adding that the statement helped to encourage yen bulls.

Shirakawa's comments followed the BOJ's decision to hold off from additional monetary policy easing. [ID:nTOE68602K] However, Japanese Finance Minister Yoshihiko Noda on Tuesday said the government would take firm action on currencies when needed, saying recent moves were clearly one-sided. [ID:nTKX006976]

Ashraf Laidi, chief market strategist at CMC Markets in London said expectations that incumbent Prime Minister Naoto Kan will stave off a leadership challenge by rival Ichiro Ozawa also helped lift the yen [ID:nTOE68606H].

"The latter has shown vocal support in favour of yen-supressing intervention," he said.

Short of active currency intervention, the yen could continue pushing toward its all-time high of 79.75 set in April 1995 should equities stay weak, analysts said, though they said the currency's upside momentum is weakening.

Data from the Commodity Futures Trading Commission last Friday showed net long yen positions fell to 49,904 from 51,069 contracts in the week ended Aug. 31. Total long yen positions also dropped.

Andrew Wilkinson, senior analyst at Interactive Brokers Group in Greenwich, Connecticut, noted higher implied volatilities for December yen put options relative to calls, suggesting investors are bidding more to buy puts -- which give the buyer the right, but not the obligation, to sell an asset.

"It would indicate to me that option investors are looking for more of a pullback in the yen than they are for a rally," Wilkinson said. (Additional reporting by Nick Olivari; Editing by Leslie Adler)

© 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 17 July 2018
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
AA 14:00 US-Powell Testimony
Thu 19 July 2018
AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
Fri 20 Jun 2018
A 12:30 CA- CPI/Retail Sales

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