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The BOJ leaves call rate unchanged at 0.10. They are to enhance easy policy view via new operation. In other words they did not come out and ease, though they will try to get same effect using other methods.

Usd/Jpy is off some 70 points since this release, now trading at 86.78.

The Bank of Japan (BoJ) today held an unscheduled policy board meeting. At the meeting it was decided to introduce a new funds-supplying operation. This new borrowing facility will allow financial institutions to borrow liquidity from BoJ at a low fixed interest rate (0.1%, the current target for the uncollateralised…

The prospects of a year-end dollar rally on increasing risk aversion took a hit thanks to a confluence of events spearheaded by growing evidence of regional Asian strength. A rising Japanese yen shocked the Bank of Japan into further quantitative measures aimed at reviving spending and the third rise in…

The USD is trading lower pressured by firmer equity market trade, higher commodity prices and optimism about UAE plans to support Dubai World debt, China’s manufacturing PMI grew at its fastest pace in five years, Dubai World says it had “constructive” talks with its creditors, AUD supported by RBA rate…

Eur/Usd came of about 30 points to trade down to its 200 hour M/A of 1.4971. It has since rebounded and now trades either side of 1.5000. The pair seems to be in consodlidation mode, as most of the action has been in between the 100 and 200 hour M/A (1.5018 & 1.4971). As we approach the European open your guess is as good as mine in which direction the pair will take. A break above the 100 hour M/A  should bring us up to the 1.5080-90 level. A break below the 200 hour M/A  should lead us to support at 1.4947. After that 1.4885 would be next level of support.

Positive equity and commodity markets gave a boost to the major pairs throughout the overnight session, and sent the dollar index down to test the 74.50 area. This is the same point where the market bottomed over the last few days of trading. If the equity markets continue to stay…

Cable has risen above the Resistance at 1.6530. Further rise from here is likely to be contained near 1.6668 which is the trendline Resistance on the daily candles (trendline formed by joining the Highs of 1.6873 (17-Nov), 1.6746 (25-Nov), 1.6725 (26-Nov). We would look to sell near this Trendline Resistance….

With a build on its Friday lower level rejection candle seen on Monday, EUR saw a test of 1.5082 level before backing off to close at 1.5033 at the end of the session. It was seen following through higher on its Monday gains today. The pair must break and hold…

The pair was seen extending its recovery higher today and holding slightly above its broken support turned resistance standing at the 87.10 in early trading today. With its Monday losses almost wiped out, risk of further upside is seen towards the 88.00 level, its Oct 07?09 low if a convincing…

The world’s leading economy continues to show further signs of improvement from the worst financial crisis since the great depression, whereas the manufacturing along with the housing sector continues to show gradual improvement throughout the past few months.