Market News

In Asian trading today, the U.S. Dollar held steady versus the Japanese Yen, but the market is merely waiting for the greenback to further soften once the Federal Reserve Bank takes additional quantitative easing measures, as most investors anticipate they will.

In a move that caught the global forex markets unaware, the Bank of Japan today, in a unanimous vote, announced a reduction in its lending rate to a mere sliver above zero percent.

With investors unwinding long Yen positions in advance of this week’s policy meeting in Japan, the U.S. Dollar gained versus the Japanese currency in Asian trading; most investors don’t see any real surprises coming out of the meeting, however.

With investor risk appetite whetted by positive economic data from China, the common currency Euro moved up against the U.S. Dollar in Asian trading today, holding steady near a 5-month peak

Arabcom Group will host The Middle East Online Trading Summit & Awards 2010, the only event of its kind, on 9th & 10th of November at Jumeirah Emirates Towers Hotel, Dubai.

With investors watching closely for any last minute sales of the greenback by exporters from Japan on this, the final day of the first half of the Japanese fiscal year, the U.S. Dollar appears to be firmly rooted near this week’s low trade versus the Japanese Yen.

The U.S. Dollar, which has continued to struggle against major currencies over the past months, once again appears vulnerable to a further decline.

The U.S. Dollar managed to hold steady against the Japanese Yen, trading at 84.20 Yen, very near to the New York close, while the U.S. Dollar Index traded at 79.42 .DXY, distancing itself from Monday’s 7-month low.

In Asian trading today, profit-taking investors helped the U.S. Dollar rise against the Japanese Yen; as reported at 1:51 p.m. (JST) in Tokyo, the U.S. Dollar was trading against the Yen at 84.25 Yen.

The Japanese Yen dropped sharply versus the greenback and other major currencies in Asian trading today, leaving traders to wonder whether or not the Japan Ministry of Finance has once again intervened their currency’s upward movement.

The Money Show Las Vegas 2010 will be a two day event entitled The Futures and Forex Expo. The Forex event opens today (Thursday) in Las Vegas and is going to be a huge attraction for Forex traders around the world as well as some of industry-leading Forex experts.

In advance of the meeting between Naoto Kan, the Japanese Prime Minister and the President of the United States, Barack Obama, the U.S. Dollar moved up versus the Japanese Yen, as well as the common currency Euro, in Asian trading today, rebounding from recent losses.

Comments issued by the U.S. Federal Reserve following their FOMC meeting yesterday pushed the U.S. Dollar down broadly in Asian trading today.

The greenback slipped in early London trading as cautious investors speculate that the U.S. Federal Reserve’s Open Market Committee may see the need for additional easing of monetary flows in the United States.

The common currency Euro gained slightly versus the greenback and Japanese Yen in Monday’s Asian trading, rebounding slightly from Friday’s fall which came as a result of renewed worries over the fiscal situation in Ireland.