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The words of incumbent Japanese Finance Minister, Naoto Kan might be enough to put his predecessor in to an early grave after his first press conference with reporters following Wednesday’s appointment. Retiring Minister Hirohisa Fujii went to great lengths to advocate not only a flexible yen stance, but one that…

USD/JPY’s rise from 91.24 extends further today and the break of 93.20 resistance indicates that whole rally from 84.81 is still in progress and has resumed. Intraday bias is flipped back to the upside and further rise could now be seen towards medium term trend line resistance at 95.08 and…

Dollar strengthens broadly into US session after comments from new Finance Minister Naoto Kan sent USD/JPY above 93 level. Risk aversion also helped the greenback after surprised yield hike from People’s Bank of China to curb record lending. European majors are generally lower against the greenback with Sterling under pressure…

German retail sales m/m came in at -1.1%, weaker than the 0.4% expected and the 0.0% prior reading.

This negative Euro number, coupled with Usd/Jpy news which is dominating trading, adds to the Usd buying market has seen of late.

Eur/Usd currently trades at 1.4355, a new session low.

Cable has fallen further towards the lower end of the range mentioned in the morning. The BoE has kept the interest rate unchanged. If this Support at 1.59 holds, we might see it move towards 1.6050 during the next few sessions. A break of the Support would see the pair…

The U.K. Rate Statement at 07:00 EST has revealed that the asset purchase targets of £200B will remain in place, as will the 0.5% interest rate. There was not any movement in Gbp trade directly after the release. Overnight equity trade has been in the red, as has gold trade….

Newly appointed Japanese Finance Minister Kan says he will cooperate with the Bank of Japan in regard to the level of Yen.

Kan says many Japanese firms in favor of Usd/Jpy around 95.00.

This news drove Usd/Jpy up around 50 points to 92.78. Gbp/Jpy and Eur/Jpy also escalated , with Gbp/Jpy up 80 points to 148.00 and Eur/Jpy up 70 points to 133.30.

The declines observed in the equity and commodity markets pulled the dollar index close to the 77.80 area during the overnight sessions. The U.S. dollar started strengthening in the Asian session, and continued to do so throughout the European trading hours. This was best seen against the pound, which lost…

The Bank of England today left interest rates steady at 0.50% while deciding not to expand the Asset Purchase Facility (APF) program leaving it at 200 billion pounds as there are worries that inflation might be triggered on the long run from the massive amount of money being applied to…

Having reversed its intraday losses to close higher Wednesday at 1.4400, EUR was seen taking another stab at the 1.4446 level in early trading today. Its current price action on the back of the mentioned strength off the 1.4280 level continues to suggest further consolidation phase could be seen but…