Online Forex Trading

G10 Advancers and Decliners vs USD JPY .54 CHF .42 EUR .27 GBP -.12

The dollar bounced back against the yen during the Asian session to 104.50-55 & fell back to 103.40-45 before settling around 103.90-95. Risk aversion and the paring down of the yen cross position remained the main theme that drove traders. This was coupled by heavy losses at AIG and a reappraisal of ratings of some companies by Fitch as well as S&P which pressured the Nikkei. However,...

The Euro rebounded on Thursday from a two-month low against the Dollar after European Central Bank President Jean-Claude Trichet said inflation remains his top concern, signaling the bank won't cut interest rates anytime soon. After the ECB left the benchmark refinancing rate at 4% on Thursday, Trichet told reporters that high energy and food costs mean the euro-zone still faces "a protracted period" of high inflation. The ECB's continued focus on inflation at a time when global growth appears to be slowing prompted investors to reduce exposure to risk, and that boosted the low-yielding Yen that's typically used to finance risky trades. The Bank of England left interest rates on hold at 5%. Economic data in Britain has reflected a weakening economy, with house prices sliding rapidly, and analysts said they expected the BoE to cut rates when it meets again in June. ..