User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday March 23, 2007 - 10:31:24 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Yen rises broadly, dollar rangebound

FOREX-Yen rises broadly, dollar rangebound
Fri Mar 23, 2007 5:34am ET15

By Veronica Brown

LONDON, March 23 (Reuters) - The yen rose broadly on Friday as investors took profit on yield-dependent carry trades while the dollar was steadier as investors digested this week's Federal Reserve policy statement.

In Asian trading, the yen was slightly weaker as the dollar firmed on expectations the Fed would leave interest rates on hold for some time.

But investors started buying back the yen in Europe against European currencies and the dollar ahead of the weekend.

"Its fair to say we're seeing a little bit of an unwind here and maybe people are looking to lock in a little bit of profit," Rabobank markets strategist Jeremy Stretch said.

Investors were coming round to a view that the Fed may keep rates at 5.25 percent for some time, with focus turning to U.S. housing data for fresh impetus.

Analysts said further consideration of the Fed's policy statement on Wednesday, where it dropped a reference to further rate rises, did not necessarily mean an imminent cut in borrowing costs was on the cards.

Instead they argued that the statement simply gave the U.S. central bank more room for manoeuvre.

"The statement left the Fed open in either direction ... they have still got the sentence that inflation is a concern but by taking out the reference that additional tightening may be needed they now have more flexibility," Marcus Hettinger, Global FX Strategist at Credit Suisse in Zurich, said.

"In our view the statement is neutral and for the coming months rates are clearly on hold and still data dependent," he said.

Further insight could come later in the day with speeches from a string of Fed officials including Federal Reserve Bank of New York President Timothy Geithner at 1530 GMT.

In Europe, European Central Bank executive board member Juergen Stark speaks at 1100 GMT, while ECB Vice-President Lucas Papademos addresses a conference at 1400 GMT.

By 0915 GMT, the euro was down against the dollar at $1.3308, off a two-year high hit in the aftermath of Wednesday's Fed statement.

The dollar was down 0.4 percent against the yen at 117.56 , while the euro was down 0.6 percent at 156.45 yen .

Sterling was down almost 0.6 percent at 230.39 yen having hit a three-week high earlier.

The dollar was flat at 1.2145 Swiss francs

U.S. short-term interest rate futures priced in about a 30 percent chance of a rate cut by the end of June, down from about 50 percent just after the Fed's statement on Wednesday.


Recent worries about the health of the U.S. economy, including soft manufacturing data and rising defaults in home loans to borrowers with poor credit, have weighed on the dollar, placing more emphasis on housing figures.

The market will look at Friday's report on existing home sales for signs that subprime mortgage defaults have had a negative impact on the housing market.

"The Fed abandoned January's prematurely upbeat assessment of the housing market at this week's FOMC and said instead that 'the adjustment in the housing sector is ongoing'. Given the downside risks to the housing market the ongoing adjustment may have much further to run," Calyon strategists said.

Economists polled by Reuters forecast existing home sales to fall to an annualised 6.31 million in February from 6.46 million in January.

Worries about contagion in the U.S. housing sector was one of the triggers behind heavy sell-offs in global equities that forced investors to cut their holdings of riskier assets -- prompting sharp rallies in the yen in recent weeks.

© Reuters 2007. 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 19 Mar 2018
Tue 20 Mar 2018
AA 9:30 GB- CPI
A 10:00 DE- ZEW Survey
Wed 21 Mar 2018
AA 03:00 AU- Employment
AA 9:30 GB- Employment
A 12:30 US- Current Account
AA 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
A A 18:00 US- Fed Rate Decision
A 21:00 NZ- RBNZ Rate Decision
Thu 22 Mar 2018
AA All Day flash PMIs
AA 9:30 GB- Retail Sales
AA 12:00 GB- Bank Of England Decision
A 13:30 US- Weekly Jobless
Fri 23 Mar 2018
AA 12:30 CA- CPI/Retail Sales
A 12:30 US- Durable Goods
A 14:00 US- New Homes Sales

John M. Bland, MBA
co-founding Partner,
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.



Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105