Intervention Pushes the Yen Lower
The main development has been Japanese intervention; the first such operation in six years. Although there has been speculation of the likelihood of intervention over the past couple of weeks, the market was still caught off guard. The defeat of Ozawa in his leadership challenge, the immediate threat of intervention appeared to slacken and many [...]
USDJPY looking to break the tight range
USDJPY is being traded in a tight, sideways trend and it seems that it is approaching a point where it is ready to break to a side and form a trend. The first focus level is at 90.40 and break of this will take USDJPY towards 93.00 level but it seems that it might not [...]
USDJPY being traded in tight range
USDJPY seems to stay in tight range and being traded in the same manner during this week. USDJPY is getting towards 90.00 level and we might see USDJPY going sown from there towards 89.00 level. Intra-Day traders will more be interesting in buying USDJPY around 89.00 level for short intra-day target. If USDJPY manages to [...]
US Dollar surges against the Yen
Monday, January 18, 2010 The Asian market in its Monday session saw the Dollar surge against the Yen. The trend seemed to carry over from Friday’s session in the North American markets where the Dollar strengthened from 91.02 yen to 90.84 yen. Early Asian trading saw the USD/JPY rising 0.15% so far on Monday from [...]
Gold retreating after a long standing rally
The last three weeks saw Gold rushing forward touching the high of $1,140, due to economic uncertainty and demand for a hedging instrument. Today, the yellow metal has retreated slightly to below $1,130. Another factor contributing to the decline of the precious metal has been the charging US dollar, which today saw a further strengthening [...]
Dollar and Yen floating aimlessly on new year’s eve
The US Dollar floated today near its 16-week highs due to a generally weak Yen. Due to the holiday, low volume of trading in the forex markets along with general weakness in the Yen, contributed to keeping the Dollar up near its highs and the Yen languishing. The Yen has been weighed down lately on [...]
Yen takes a dive
The Japanese Yen took a massive hit as the Bank of Japan threatened intervention in the currency market. The USD/Yen pair rose to a high of 91.79 on account of heavy demand for the US dollar from the Japanese export market. Taking a cue from the sentiment for the coming year, traders have been building [...]
Good times ahead for the US Dollar
Since earlier this month, the Dollar has been on an upward movement, touching a high last week on the 14th when it hit 98.97. it has fallen only once since and today it continues to move upward making a new 2 month high at 91.85 (yesterday), trading range-bound today around 91.55 to 91.80. the 91.85 [...]
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