User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday July 16, 2007 - 10:50:06 GMT
Reuters -

Share This Story:
| | Email

FOREX NEWS-Dlr falls broadly, hits new lows vs high yielders

FOREX-Dlr falls broadly, hits new lows vs high yielders
Mon Jul 16, 2007 6:26AM EDT

(Changes byline, recasts, adds quotes and comment)

By Jamie McGeever

LONDON, July 16 (Reuters) - The dollar weakened against major currencies on Monday, plumbing fresh multi-year depths against higher-yielding units as bearish sentiment toward the greenback and the outlook for U.S. interest rates gripped markets.

The New Zealand dollar rose to a fresh 22-year post-float high above $0.79 after strong inflation data boosted expectations of an interest rate increase next week.

This helped to lift the Australian dollar to an 18-year peak and sterling to levels not seen in over quarter of a century.

Interest rates in New Zealand, Australia and the UK offer investors high -- and rising -- returns. In contrast, U.S. interest rates are seen steady for the rest of the year with a small possibility of a cut, a factor which has kept the greenback on the back foot in recent weeks.

"For the moment, the outlook isn't very favourable to the dollar ... as long as longer-term yields in the U.S. remain (relatively) low," said Roberto Mialich, currency strategist at Unicredit-MIB in Milan. "Many currencies are appreciating quickly, almost exclusively against the dollar. We expect the dollar to remain under siege. There's no incentive right now to reverse the trend."

Last week's surprisingly soft June U.S. retail sales data and concern over the possibility of problems in the subprime mortgage market spilling over to the broader economy are also weighing on the dollar, Mialich added.

At 0955 GMT the dollar index (.DXY: Quote, Profile, Research) was down around 0.2 percent on the day at 80.458, flirting with 2-1/2 year lows.

The euro was up 0.1 percent at $1.3800 , just below all-time highs of $1.3813 struck on Friday, while sterling was at a 26-year high of $2.0398 .


The New Zealand dollar and Australian dollar were trading at 22-year post-float and 18-year highs respectively, of $0.7919 and $0.8748 .

The dollar was down a quarter percent against the yen at 121.61 yen , while the euro was at 167.84 yen -- just under one yen below record peaks.

A public holiday in Japan thinned trading volumes in Asia.

Investors are eyeing U.S. inflation data and Congressional testimony by Federal Reserve Chairman Ben Bernanke later this week for a further steer on the U.S. monetary policy outlook.

Investors are pricing in around a 15 percent chance that the Fed will cut rates by a quarter percentage point by the end of the year. In contrast, strong economic growth and persistent inflationary pressures are buoying expectations of a rate rise in most other industrialised nations.

Data on Monday that showed New Zealand's consumer prices rose more than expected in the second quarter prompted markets to price in a rate rise to 8.25 percent as soon as next week.

"The kiwi is rallying fairly strongly on the back of the market increasingly pricing in a risk of a rate hike next week and dragging the Aussie up with it," said Adam Cole, senior currency strategist at RBC Capital Markets.

"Virtually every G10 central bank is still on the tightening cycle, and the debate in the U.S. is whether they hold or cut, and that's not a positive background for the U.S. dollar."

However, analysts at JP Morgan and Lehman Brothers on Monday warned against chasing the New Zealand dollar much higher, noting that the Reserve Bank of New Zealand could repeat its kiwi-selling intervention from last month.

Investors are looking to Bernanke's Congressional testimony on Wednesday and Thursday for clues on how worried the Fed is about the troubled subprime mortgage sector and whether the Fed may switch its focus away from core inflation numbers to the higher headline figures, which include food and energy prices.

Brent oil futures hit $78 a barrel on Monday, an 11-month high and within sight of their all-time highs [O/R].

© Reuters 2006. 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.

Reuters journalists are subject to the Reuters Editorial Handbook which requires fair presentation and disclosure of relevant interests.


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