User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday September 7, 2006 - 10:37:54 GMT
Reuters -

Share This Story:
| | Email

FOREX-Yen, on G7 agenda, jumps vs dlr, euro

FOREX-Yen, on G7 agenda, jumps vs dlr, euro
Thu Sep 7, 2006 6:23am ET163

(Updates prices, adds fresh quotes, changes byline)

By Sujata Rao

LONDON, Sept 7 (Reuters) - The yen jumped versus the dollar and the euro on Thursday after Germany's deputy finance minister said yen weakness and China's yuan currency would be discussed at a Group of Seven meeting later this month.

Thomas Mirow told reporters in Berlin the "yen had clearly weakened against the euro and the dollar" -- an issue that would be discussed at the mid-September meeting in Singapore.

Analysts said the comments reflected euro zone governments' unease about the euro's strength against the Japanese currency.

"Obviously it's becoming a source of concern that euro/yen has hit record highs day after day. It's a topic that a lot of the European ministers would like to talk about," Bank of America currency strategist Kamal Sharma said.

"Obviously they are going to talk about the Chinese currency as well. There is ongoing concern about Asian currencies needing to be more flexible and China is obviously at the centre of that," Sharma added.

By 1010 GMT the yen had firmed half a percent to 116.18 per dollar , just off the day's high of 116 and recovering from a three-day low of 117.05 just before Mirow's comments.

Against the euro the yen gained more than half a percent to 148.51, paring gains from a high of 148.27 . It recently hit a record low against the euro beyond 150.70.

Caution over the near-term outlook for Japanese rates after a slew of weak economic data has prompted some analysts to scale back short-term forecasts for the yen while global investors are continuing the trend for borrowing the low-yield currency to fund riskier investments.

The Japanese central bank is seen leaving rates steady at 0.25 percent at its two-day policy meeting that started on Thursday.

But the single currency has been supported as euro zone interest rates are expected to rise further from the current 3 percent, a view that was reinforced by European Central Bank Governing Council member Yves Mersch on Thursday.

Mersch said the ECB will show the greatest vigilance towards inflation beyond the immediate future.

Interest rate expectations in the United States also received a boost after data on Wednesday showing a surprisingly big jump in U.S. labour costs suggested that the two-year long rate tightening cycle may have further to go.

The 5 percent jump in unit labour costs during the second quarter raised the prospect that rising wage pressures would prompt the Fed to resume the string of rate increases after it kept them unchanged at 5.25 percent at its meeting last month following 17 consecutive hikes.

That data helped the dollar steady against the euro, trading slightly firmer at $1.2782 .

"The dollar looks very rangebound," said Teis Knuthsen, head of FX and fixed income research at Danske Markets in Copenhagen.

"What has been driving currencies for the last month has been absolute rates."


The pound was down slightly against the dollar at $1.8812 after sliding more than 1 percent in the past two days to a 2-1/2 week low on soft economic data and worries about pressure on Prime Minister Tony Blair to step down from office.

The currency failed to react significantly to British media reports that Blair would step down early in May next year. Blair is expected to lay out a timetable for his departure later in the day.

"The market doesn't like political uncertainty. Until we get a clearer picture on that front sterling will remain vulnerable," said Audrey Childe-Freeman, European economist at CIBC World Markets.

Investors are also waiting for a Bank of England rate decision at 1100 GMT. The BoE is widely expected to hold rates steady at 4.75 percent after a surprise increase in August.

U.S. Treasury Secretary Henry Paulson will be attending an Asia-Pacific Economic Cooperation (APEC) forum meeting in Vietnam this week, along with his counterparts from China and Japan.

A news conference from BOJ Governor Toshihiko Fukui after the bank's policy meeting on Friday and a speech by San Francisco Fed President Janet Yellen later on Thursday will also be scrutinised for clues on future monetary policy.

© 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 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