User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Wednesday November 19, 2014 - 22:57:51 GMT
Reuters -

Share This Story:
| | Email

FOREX-Yen in full retreat, Fed unalarmed by dollar strength

5:32pm EST

* Yen slides as speculators gun for 120.00 target

* Fed minutes dovish, but see little danger in dollar gains

* Swiss opinion poll shows gold vote likely to lose

By Wayne Cole

SYDNEY, Nov 20 (Reuters) - The yen slid on Thursday, striking seven-year lows against the dollar and a six-year trough versus the euro as speculators poured into carry trades funded by a tide of super-cheap liquidity from the Bank of Japan.

The dollar romped as far as 118.09 yen, up over a full yen in 24 hours and almost 10 yen since the BOJ sprang its surprise stimulus steps on the market at the end of October.

Likewise, the euro shot to 148.05, having gained 1.1 percent on Wednesday and more than 10 yen in 14 sessions.

The dollar had a brief hiccup when minutes of the Federal Reserve's last policy meeting struck a more dovish tone than its post-meeting statement had.

But they also showed Fed members were relatively unconcerned about the dollar's strength, a marked contrast to most other major central banks where weaker currencies are favoured.

"The Fed has left the green light shining brightly for further USD gains," said Alan Ruskin, global head of currency strategy at Deutsche.

"The USD/JPY take-profit zone still looks some way off -- a little ahead of the major 120 yen level."

Many investors seemed to agree, with a Citibank poll of its customers finding almost 40 percent expected the dollar to trade atop 120.00 yen by year end.

With the market focused on the yen, the euro moved only marginally on the U.S. dollar, edging up to $1.2553 EUR- and shy of resistance around $1.2600.

There was more action in the EUR/CHF cross, where the euro popped higher after on opinion poll showed a majority of voters were against a proposal to make the Swiss central bank buy more gold.

There has been speculation that if the plan passed, the SNB could find it hard to maintain its ceiling against the euro. The single currency was hovering at 1.2010 francs, while gold prices peeled off to $1,182 an ounce.

Another gainer was sterling, which firmed half a cent to $1.5680 after minutes of the Bank of England's last meeting were not as dovish as many expected. (Editing by Diane Craft)

Thomson Reuters 2014. 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 LIVE to YOUR charts

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 27 May 2019
AAGB/US- Holiday
Tue 28 May 2019
A 14:00 US- Consumer Confidence
C 13:00 US- Case-Shiller
Wed 29 May 2019
A 08:55 DE- Employment
AA 18:00 US- BOC Decision
A 18:30 US- EIA Crude
Thu 30 Mar 2019
AAEZ/CH- Holiday
A 12:30 US- Weekly Jobless
Fri 31 Mar 2019
AA 10:00 EZ- Flash HICP
A 12:30 US- Personal Income, Spending, Deflator
AA 14:00 US- Final Univ of Michigan

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


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
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

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
The Amazing Trader
Forex Opportunities
Forex Affiliates
Forex CopyTrading
GVI Forex