User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Tuesday September 5, 2006 - 23:57:50 GMT
Reuters -

Share This Story:
| | Email

FOREX-Yen extends gains on BOJ view; dollar supported

FOREX-Yen extends gains on BOJ view; dollar supported
Tue Sep 5, 2006 4:48pm ET167

(Updates prices)

By David McMahon

NEW YORK, Sept 5 (Reuters) - The yen climbed across the board on Tuesday for a third straight session, extending gains on speculation that the Bank of Japan may raise interest rates again this year.

The dollar strengthened against major European currencies, after a series of soft data in the services sector helped helped trigger a bout of profit-taking following solid gains in the euro and pound last week.

"What we're seeing today is more a little weakness in the European currencies, especially sterling, rather than anything dollar-positive," said Boris Schlossberg, currency strategist at Forex Capital Markets.

The dollar failed to make any ground against the yen, which rallied across the board.

Traders bought back yen to cover short positions, or bets on further yen weakness, after data on Monday showed that Japanese firms in the last quarter boosted capital spending at the fastest pace in nearly five years.

The dollar stood at 115.95 yen, barely changed on the day after hitting a two-week low of 115.57 yen on electronic trading platform EBS. The U.S. currency fell around 1 percent against the yen on Monday.

The dollar was up 0.5 percent to 1.2335 Swiss francs , while sterling declined 0.7 percent to $1.8935, on pace for the biggest daily fall in almost two months. Continued...

The euro was down around 0.4 percent at $1.2815 , in the wake of data showing growth in the euro zone service sector cooled more than expected last month to its weakest pace since January, after hitting a six-year peak in June.

The euro was down 0.4 percent on the day at 148.70 yen , around two yen below a record high hit last week.

The yen had slumped to record lows against the euro, and eight-year lows against sterling and the Swiss franc last week on a view that the BOJ was likely to stay on hold this year after raising rates for the first time in six years in July.

"I think the yen move (lower) over the last couple of weeks has been premature," said David Durrant, strategist at Julius Baer Investment Management. "The BOJ may raise rates again later this year, and the capex data points in that direction."

Data from the International Monetary Market showed last week that speculators' net short yen positions had jumped to a record, suggesting that market positioning may have become too one-sided and a price correction was due.

In Japan, the week's highlight will be a news conference by BOJ Governor Toshihiko Fukui on Friday, following a two-day policy meeting, at which the central bank is widely expected to keep rates unchanged at 0.25 percent.

In the New York time zone, technical-based trading and order flows may dominate price action due to a dearth of economic data, but the dollar may remain supported by some investors who are still betting on the Federal Reserve to support the dollar.

"There is a growing base of investors that think the Fed may have to go one more time," said Timothy Mazanec, director of foreign exchange at Investors Bank and Trust in Boston.

Fed fund futures suggest there the market is pricing in just a 10 percent chance that the Fed will raise interest rates again this month after pausing in August following around two years of successive rate rises.

The Fed meets again in September and December. Any further rise in inflation, which is already running above the central bank's perceived comfort zone, could prompt further interest rate rises to nip price pressures in the bud.

St. Louis Federal Reserve Bank President William Poole told Bloomberg Radio on Tuesday that U.S. inflation was under control and that the economy was unlikely to suffer from "cascading weakness."

(Additional reporting by Kevin Plumberg in New York and Toni Vorobyova in London)

© 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

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