User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday January 28, 2013 - 23:52:02 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS - Sterling gets mauled, yen bears take a breather

6:22pm EST

* Sterling at lowest in 13 mths on euro, five mths vs USD

* Yen off lows on profit-taking, but downtrend firmly in place

By Wayne Cole

SYDNEY, Jan 29 - Sterling took the spotlight on Tuesday, though for all the wrong reasons, as a dour economic background and persistent rumours of a possible credit downgrade dragged the British currency to a 13-month trough on the euro and a five-month low on the dollar.

The euro extended its recent stellar run to hit 0.8575 sterling, its highest since late 2011. It has now climbed over 5 percent in just 14 sessions and is targeting former peaks at 0.8665, if not 0.8831.

The pound likewise crumbled to $1.5687, near its lowest since August, in part because of comments from incoming Bank of England Governor Mark Carney that there was still scope for monetary policy to do more in the developed world.

"The prospect of more activist monetary policy is not exactly an encouraging one for GBP, certainly not as it comes on top of a host of other negative developments - an economy that is triple-dipping, a government that is struggling to cut its deficit, and soul-searching about the UK's role within the EU," wrote analysts at JPMorgan in a note.

Cable was threatening a monthly close below the uptrend line from the Jan 2009 nadir, while the euro cleared the 61.8 percent retracement of the entire fall from 0.9083 in July 2011 to last year's low around 0.7759.

Action was modest elsewhere, with investors content to take some profits on recent major moves. That mostly took the form of trimming short yen positions, with the dollar edging off to 90.70 yen having made a fresh 2-1/2 year peak of 91.25 on Monday.

The euro inched back to 121.95 yen after topping at 122.90, which was its highest since April 2011. Bulls are targeting the 2011 peak at 123.33.

Shorting the yen has been a one-way trade since mid-November as investors wagered Japanese Prime Minister Shinzo Abe would push the Bank of Japan into more forceful monetary easing to beat deflation.

Increasing rhetoric from Japanese authorities that they are open to the dollar rising to the 100 yen level has helped weaken the currency further, raising eyebrows abroad and sparking talk that Japan is triggering a currency war.

Against the dollar, the euro pulled back a little to $1.3450, off an 11-month high of $1.3479 set on Friday. The euro has advanced for six consecutive months versus the dollar for gains of more than 9 percent.

Dealers say fund managers started the year buying everything European as tail risks for the region and the currency seemed to have declined markedly. Many investors were seriously short of European assets last year given risks a country might be forced to leave the union, or that the currency bloc could break up.

With those dangers receding, investors have been bidding for European debt and piling into long euro trade, even though much of the region is still mired in recession.

That shift echoes other big moves into equities and out of safe haven government bonds. While the S&P 500 has enjoyed its longest winning streak in eight years, yields on U.S. 10-year Treasury notes broke above 2 percent for the first time since April.

The shuffling of positions has also included selling of some Asian currencies such as the Korean won, and of commodity currencies like the Australian and New Zealand dollars.

The Canadian dollar has been particularly hard hit by dovish words from the country's central bank that put back the expected start of a tightening cycle.

News Moody's had downgraded some major Canadian banks added insult to injury and saw the U.S. dollar touch a six-month peak of C$1.0100, before edging back to C$1.0065.

There is little in the way of major data due during the Asian session on Tuesday, though India's central bank is widely expected to cut interest rates later in the day, the first easing in nine months.

Traders are also awaiting the outcome of the Federal Reserve's monetary policy meeting this week, although most do not expect any change in the U.S. central bank's dovish stance. The Fed's policy statement will be issued at the close of its two-day meeting on Wednesday.

Thomson Reuters 2011. All rights reserved.




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.

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

Mon 3 Dec 2018
A All Day Final Mfg PMIs
Tue 4 Dec 2018
A 04:30 AU- Reserve Bank Decision
Wed 5 Dec 2018
A All Day Final SVC PMIs
A 04:30 AU- CPI
A 13:15 US- ADP Jobs
A 13:30 US- Productivity
A 15:00 CA- Bank Of Canada Decision
A 15:30 US- EIA Crude
B 19:00 US- Beige Book
Thu 6 Dec 2018
AA 12:45 EZ- ECB Decision
AA 13:30 US/CA- Trade
A 13:30 US- Weekly Jobless
Fri 7 Dec 2018
A 10:00 EZ- GDP
AA 13:30 US/CA- Employment
A 15:00 US- Final Univ of Michigan

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