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Thursday October 7, 2010 - 10:48:00 GMT
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ForexPros Daily News October 7, 2010
ForexPros Daily News October 7, 2010
Forex - USD/JPY tumbles to
new 15-year low as intervention sidelined
Forex Pros â€“ The U.S. dollar tumbled to a fresh
15-year low against the yen on Thursday, as the threat of renewed
Japanese intervention was sidelined ahead of Fridayâ€™s Group of 20
USD/JPY hit 82.25 during European morning trade, the pairâ€™s lowest since
May 29, 1995; the pair subsequently consolidated at 82.39, tumbling
The pair was likely to find support at 80.75, the low of April 20, 1995
and resistance at 83.26, Wednesdayâ€™s high.
Japanese intervention ahead of Fridayâ€™s meeting of financial ministers
and central bankers from the G20 nations would create difficult
questions for Japanese authorities, forcing them to explain that they
are not just pushing the yen lower to gain a trade advantage against
The yen was also up against the euro, with EUR/JPY shedding 0.24% to hit
Later in the day, the U.S. was to release key weekly data on initial
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01:30 AU- CPI
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14:00 CA- BOC Decision
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Thu 26 Oct
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