User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Friday June 29, 2007 - 10:28:00 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dollar up vs yen after Fed but flat vs Europe

FOREX-Dollar up vs yen after Fed but flat vs Europe
Fri Jun 29, 2007 4:16 AM ET

By Jamie McGeever

LONDON, June 29 (Reuters) - The dollar strengthened against the low-yielding yen on Friday after the Federal Reserve reiterated its concern over persistent price pressures, suggesting little chance of an interest rate cut soon.

But the dollar struggled to gain ground against other major currencies as traders took the view that recent data showing an easing of inflation and signs of weakness in growth and housing market indicators will discourage the central bank from raising rates.

The Fed left key interest rates on hold at 5.25 percent on Thursday as expected, making it a year since rates have been stuck at that level.

The relatively neutral statement from the Fed helped depress implied volatility on currency options, which in turn emboldened investors to put on carry trades of selling low-yielding units for assets offering higher returns.

May U.S. inflation figures as measured by core personal consumption expenditures later in the day will be watched closely for clues on the Fed outlook and implications for risk appetite in currency and other financial markets.

"They've moderated their language to some degree but reading between the lines they remain pretty hawkish," said Paul Mackel, senior currency strategist at HSBC, referring to the Fed's statement.

"We have to monitor risky assets in general, how equities perform. We'll have a fresh way to look at things with today's core PCE number. That will be critical for the market."

Japanese equities rallied overnight and European stock markets opened higher on Friday.

At 0750 GMT the dollar was up 0.2 percent from late U.S. trade at 123.40 yen , moving towards a 4-1/2-year high of 124.14 yen hit last week on electronic trading platform EBS.

The euro was also up 0.2 percent against the yen at 165.94 yen , one yen from the all-time high of 166.95 yen hit last week according to Reuters data.

The euro was flat against the dollar at $1.3445 , sterling was flat at $2.0025 and the dollar was steady against the Swiss franc at 1.2313 francs .


The Australian dollar was up 0.4 percent at $0.8500 and the New Zealand dollar was up at $0.7710 .

The perkiness of the Antipodean currencies stood in contrast to the yen's continued weakness, a difference highlighted by the gaping relative interest rate differentials.

Tame Japanese inflation and manufacturing data overnight overshadowed stronger employment figures, which did nothing to strengthen investors' bets on the Bank of Japan raising rates from 0.5 percent.

"Continued very low inflationary pressure and slowdown in private consumption are factors that will continue to discourage the BOJ from an early rate hike," Citi currency strategists wrote in a note on Friday.

"We think that an August hike is a little too early, and that the BOJ can wait until Q4 to resume tightening. Therefore, lacking a catalyst from Japanese monetary policy, the yen is likely to remain weak in the coming months." The focus for investors on Friday is likely to be the underlying or "core" U.S. PCE figures for May at 1230 GMT. Core PCE -- the Fed's preferred measure of inflation -- is expected to rise 0.1 percent on the month, the same as April's rise.

Benign readings like that will probably strengthen the belief in financial markets that the Fed is on hold for some time.

In a Reuters poll of primary dealers after the Fed's rate decision, nine out of 17 expected the central bank to stay on hold at least through this year, and an equal number said the Fed's next move would be a rate cut. Five said the Fed's next move would be a rate hike. [FED/R]

© Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.


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