User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday July 10, 2006 - 10:19:20 GMT
Reuters -

Share This Story:
| | Email

FOREX-Yen hits 1-month high vs dlr as BOJ tightening looms

LONDON, July 10 (Reuters) - The yen hit a one-month peak against the dollar and a two-week high versus the euro on Monday as markets braced for the first Bank of Japan interest rate hike in nearly six years, which is expected later this week.

The dollar held near Friday's one-month low versus the euro, struck after a weaker than expected U.S. jobs report tempered expectations for the Federal Reserve to raise interest rates again in August.

The BOJ is expected to raise interest rates by 25 basis points from current levels around zero on Friday.

There has been some opposition from government officials who called on the central bank to act cautiously but Economics Minister Kaoru Yosano told Reuters on Monday the time was ripe to discuss ending the BOJ's zero interest rate policy.

"Speculation ahead of the BOJ meeting is really supporting the yen and that's why we are seeing it performing so well," said Niels From, currency strategist at Dresdner Kleinwort.

"Given the disappointing labour market report we had out of the U.S. on Friday, and with those numbers supporting the view that the Fed might be on hold now ... it's very much a story about relative monetary policy."

By 0930 GMT, the dollar had fallen to a one-month low of 113.36 yen , down 0.5 percent on the day.

The euro was also down 0.5 percent at 145.40 yen , around levels last seen in late June and off the record highs around 147.40 yen hit last week.

The euro was down 0.2 percent at $1.2779 , off a one-month peak of above $1.2860 marked on Friday.


Yosano said ending the zero rate policy would remove an uncertain factor from the market. A senior official of Japan's ruling Liberal Democratic Party was quoted as saying it was up to the BOJ whether to raise interest rates from zero.

But government spokesman Shinzo Abe said the bank should continue to leave rates at zero to support the economy.

"With the Japanese government clearly opposed to a rate increase and the GDP deflator still negative (i.e. real GDP growing faster than nominal GDP) we suspect the BOJ will opt for a smaller than expected calibre of rate hike, 10-15 basis points as opposed to the widely expected 25 basis points move," HBOS Treasury Services said in a note to clients.

Some analysts said the yen, which is often traded as a proxy for the yuan, was likely to be firm in the lead up to the one year anniversary of China's July 21 currency revaluation.

In the euro zone, investors are focused on the Eurogroup of euro zone finance ministers and European Central Bank officials which meets at 1700 GMT in Frankfurt.

The ECB last week held rates at 2.75 percent, as expected, but President Jean-Claude Trichet said the bank would "exercise strong vigilance" -- phrasing which was interpreted as signalling a rate hike on Aug. 3.


On Friday, the U.S. employment report showed employers added a weaker-than-expected 121,000 jobs in June.

Interest rate futures markets showed investors' expectations the Fed will raise rates in August dropped to a 62 percent chance after the data was released, from 70 percent beforehand.

The figures highlighted concerns about a slowdown in the U.S. economy, though dealers said a big gain in wages left inflation concerns intact.

Henry Paulson will be sworn in as U.S. Treasury Secretary at 1500 GMT, replacing John Snow. Investors will be looking for more clues on his stance on the dollar.

© Reuters 2006. 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.

Register To Test Your Amazing Trader

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

Mon 10 Sep 2018
AA 08:30 GB- GDP, Trade, Output
Tue 11 Sep 2018
AA 08:30 GB- Employment Decision
A 09:00 DE- ZEW Survey
Wed 12 Sep 2018
A 12:30 US- PPI
A 14:30 US- EIA Crude
A 18:00 US- Beige Book
Thu 13 Sep 2018
A 1:30 AU- Employment
AA 11:00 GB- Bank of England Decision
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
AA 12:30 US- CPI
Fri 14 Sep 2018
A 08:30 GB- GDP
AA 12:30 US- Retail Sales
A 13:15 US- Industrial Production
AA 14:00 US- prelim University of Michigan

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