User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday September 21, 2006 - 10:19:11 GMT
Reuters -

Share This Story:
| | Email

FOREX-Dollar falls broadly after Fed statement

FOREX-Dollar falls broadly after Fed statement
Thu Sep 21, 2006 6:06am ET144

(Updates prices, adds quotes, changes byline)

By Veronica Brown

LONDON, Sept 21 (Reuters) - The dollar fell broadly on Thursday after the Federal Reserve left interest rates on hold for a second straight policy meeting and suggested inflation risks were moderating.

As widely expected, the Fed voted to keep its overnight funds rate at 5.25 percent, the level reached in June after increases at 17 straight meetings stretching over two years.

The Fed noted several reasons to expect inflationary pressures to "moderate over time" but made clear this was a forecast and not yet reality, holding out the possibility of higher rates if needed.

"I guess that if you are looking at overall Fed policy risk going forward and you are looking at the potential for a rate cut or at least no more rate hikes -- then you could take some comfort from them re-affirming this moderation story," Mellon Bank head of foreign exchange research Ian Gunner said.

By 0952 GMT, the dollar had fallen 0.3 pct on the day against the yen to 117.04 yen . The euro rose around a third of a percent to the week's high of $1.2734 , but was flat against the yen at 148.98 .

Sterling rose to a 10-month high agaist the euro as markets continued to gear up for a UK interest rate hike in November to 5.00 percent.

Investment flows out of the euro zone totalled 6.7 billion euros in July, the European Central Bank said on Thursday.


Moves in the Fed funds futures markets after the decision pointed to just a 6 percent chance of a quarter percentage point rise at the U.S. central bank's next meeting in October.

By contrast, ECB officials have kept up their talk of being vigilant in tightening credit enough to keep inflation pressures contained.

The key rate in the euro zone is at 3 percent and market expectations are for the ECB to raise that to at least 3.5 percent by mid-2007, while the Bank of Japan is seen raising rates by 25 basis points from 0.25 percent only early next year.

Bank of Japan Governor Toshihiko Fukui said on Thursday the central bank would adjust rates slowly by examining economic and price developments, and that the Japanese economy continued to recover gradually.


Comments by Japan's finance minister and European officials after the Group of Seven meeting last weekend seemed to back a stronger yen, by saying the currency should reflect Japan's solid economic recovery.

Short-covering following further European policymaker comments after the meeting helped to pull the yen away from near a lifetime low against the euro and a five-month trough versus the dollar.

The yen may get a further boost if German Finance Minister Peer Steinbrueck makes similar comments when he takes part in a discussion organised by the state of Hesse at 1300 GMT.

But some in the market say the improved fortunes of the low-yielding yen aren't likely to last.

"The BOJ is remaining very cautious, and the interest rate differential is a key driver for euro/yen," said Derek Halpenny, currency economist at BTM-UFJ.

With rates remaining the dominant theme in the market, investors have widely sold low-yielding currencies in favour of those offering higher yields in the carry trade.

Meanwhile, China's central bank chief Zhou Xiaochuan said China would gradually push to allow its currency to be freely converted and step up efforts to improve the openness of its financial sector.

But he added Beijing had no timetable for widening the daily trading band of the yuan , which set a post-revaluation high against the dollar for a third straight day on Thursday.

Zhou and ECB Governing Governing Council member Christian Noyer preside over a Sino-French financial forum later on Thursday.

© 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 23 July 2018
A 14:00 US- Existing Homes Sales
Tue 24 July 2018
AFlash PMIs
Wed 25 July 2018
A 08:00 DE- IFO Survey
A 14:00 US- New Homes Sales
A 14:30 US- EIA Crude
Thu 26 July 2018
AA 11:45 EZ- European Central Bank Decision
A 12:30 US- Weekly Jobless
A 12:30 US- Durable Goods
Fri 27 July 2018
AA 12:30 US- GDP
A 14:00 US- Final 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