Forex News: June 2007

Friday, June 29, 2007

Yen Strengthens Against Major Counterparts Friday Morning, Friday, June 29, 2007 6:51:44 AM

The yen gained ground against each of its major counterparts Friday morning in New York. Traders mulled data showing that Japan May housing starts fell, while construction orders surged.

The yen edged higher versus the greenback Friday morning in New York. At 6:30 am ET, the Japanese currency traded at a mark of 123.32 against its American counterpart. Greenback traders continued to digest Thursday`s decision by the Federal Reserve to leave interest rates unchanged.

The yen gained steadily versus the euro Friday morning in New York. Just after 6:30 am ET, the Japanese currency reached an intraday high of 166.52 against the European currency. Traders considered data showing that German retail sales slumped in the month of May.

The yen moved higher against the pound Friday morning in New York. The Japanese currency gained in the early morning before largely leveling off after 2 am ET. Just after 6:30 am, the yen traded at a mark of 247.26 against its British counterpart. Investors mulled data showing U.K. consumer confidence fell in June.

Japanese housing starts declined 10.7% annually in May, the Ministry of Land, Infrastructure and Transport indicated Friday. This compares to 3.6% fall in April. Annualized housing starts totaled 1.155 million units. Construction orders with the 50 big constructors surged 48.3% to 1.047 trillion yen. In April, construction orders improved 1.8%.

Japan May Core Consumer Prices Fall 0.1% On Year, Friday, June 29, 2007 6:51:35 AM

Japan`s core annual Consumer Price Index - CPI fell 0.1% in May, for the fourth straight month, the Ministry of Internal Affairs said Friday.

The fall was in line with market expectations. The nationwide headline annual CPI remained unchanged in May, although the index edged 0.3% higher over the prior month.

Annually, the headline index remained weighed down by the effects of lower prices of furniture and household utensils, reading and recreation and housing. Furniture and household utensils prices fell 1.4% in May, while reading and recreation, and housing prices slipped 1.4% and 0.3% respectively.

The decreases were partially offset by medical care goods and miscellaneous items, with increases of 1.2% each.

Food prices rose 0.3% from last year, while fuel, light and water charges advanced 0.2%. The core CPI, excluding energy products, fell 0.3% from the previous year.

The overall nationwide prices for goods fell 0.2% from last year, while growth in services prices remained flat in May.

The Ministry said that the core CPI for Tokyo fell 0.1% in June on the year, while the headline index slipped 0.2%. The CPI excluding food and energy products was down 0.3% from last year. Consumer prices for goods in Tokyo fell 0.5% in June, while services price remained unchanged over the previous year.

The BoJ Governor Toshihiko Fukui said on May 17, `Even if the CPI stays slightly negative, the BOJ might move to hike interest rates.`

Friday, commenting on the driving force behind price trends changes, Fukui, however avoided explaining the reasons for Japan`s falling CPI by saying `there won`t be any ultimate answer to the issue,` Nikkei reported.

Bank of Japan Deputy Governor Toshiro Muto said Thursday that the CPI will come under upward pressure once the GDP gap turned positive.

`Although the CPI will likely remain almost flat on the year in the near future, the pace of its yearly growth is expected to quicken gradually over the long term,` Muto said.

BoJ said Tuesday, that the corporate service price index rose 1.4% in May, marking the tenth consecutive monthly rise. The corporate goods price index -CGPI climbed 2.2% from last year in May, beating market expectation.

The latest CPI data may give little room for the BoJ policy board to hike the rates when it meets on July 11 and 12 for its next policy decision. Analysts expect the bank will wait for the release of the GDP data for the second quarter later next month. A pointer to the strength of the economy and corporate business confidence will also emerge with release of BoJ`s Tankan survey on July 2.

Jobless Rate Unchanged at 3.8%, Household expenditure rises

Japan`s jobless rate remained unchanged at 3.8%, while the household expenditure rose 0.4% on year in May, the Ministry of Internal Affairs said Friday in separate reports.

The jobless rate, little changed from last month, marked the lowest level in near nine years. Analysts expected the jobless rate to touch 3.9% in May.

The number of unemployed persons totaled 2.58 million, down 6.9% from a year ago. The employed persons rose 0.8% to 64.99 million, lifting the labor force participation by 0.1% on year to 61.2% in May.

The jobless rate for men fell 0.1% to 3.9% in May, easing to the sub-4 level for the first time since March 1998, while the rate for women stood unchanged at 3.6%.

The 0.4% growth in Japan household spending was driven mainly by a 4.9% increase in medical care and a 4.5% climb in culture and recreational activity. Spending on furniture and household utensils advanced 2.3%, educational expenses climbed 2.0% from last year.

The increases were partially offset by a 3.4% fall in spending on transportation and communication in May.

Meanwhile, the average monthly income per worker`s household rose 1.0% from a year ago. The living expenditure climbed 0.9% over the same period. The propensity to consume, in worker`s households, fell 0.7% to 94.1% in May, the report said.

Housing Starts Fall, Construction Orders Surge

Japanese housing starts declined 10.7% annually in May following a 3.6% decline in the prior month, the Ministry of Land, Infrastructure and Transport indicated Friday. On annual basis, housing starts totaled 1.155 million units in May.

Meanwhile construction orders with the 50 big Japanese constructors surged 48.3% to 1.047 trillion yen in May. This compared to a 1.8% increase in the prior month.

Greenback Moves Sideways Against Singapore Dollar, Drops Heavily Versus New Zealand And Canadian Counterparts, Friday, June 29, 2007 6:00:30 AM

During the European session on Friday, the U.S. currency moved sideways against the Singapore dollar. On the other hand, the Greenback showed weakness against its New Zealand, Australian and the Canadian counterparts. However, in the Asian deals, the Greenback showed choppy trading versus the Kiwi, but it was down against the rest of majors.

The traders are now looking for the US personal income and spending for May, Chicago purchasing managers index for June and the University of Michigan`s consumer confidence survey for June which are slated later in the morning.

Against the Australian dollar, the U.S. currency drifted down in the early Asian deals on Friday. At about 9:20 pm Eastern Time Thursday, the Greenback picked some up pips but it edged down again soon after. The Greenback weakened further in the European session and as of 5:58 am Eastern Time, the pair collected 0.8504.

On late Thursday in New York, the U.S. currency lost ground versus the New Zealand Kiwi. However, the Greenback advanced slightly at 6:50 pm ET and then showed a choppy trend. The Greenback extended the same trend until it fell heavily again at about 2:30 am ET Friday. Currently the Greenback has been continuing its downtrend and it was worth 0.7736 as of 5:58 am Eastern Time.

The U.S. currency strengthened slightly against its Canadian counterpart during late Thursday in New York. But the pair gave back the gains in the Asian deals on Friday. The Greenback added to its losses in the European session also and as of 5:58 am Eastern Time, the pair fetched 1.0535.

Against the Singapore dollar, the Greenback dropped as the Asian deals started on Friday. The pair gained some momentum at 9:20 pm ET, but it lost ground again within an hour. The Greenback touched the 3-week low of 1.5310 at 10:55 pm ET Thursday and then traded sideways. Of late, the pair has been continuing the same trend and as of 5:58 am Eastern Time, traded at 1.5321.

Euro Higher Across The Board, Friday, June 29, 2007 5:30:42 AM

The Euro held steady with the sterling but moved up against the rest of majors during the Asian deals on Friday. However, toward the end of the Tokyo session, the common currency gave back its gains against the Swiss franc.

Of late, the European currency has risen against all its major counterparts keeping it higher against them from the previous day`s New York session closes. The recent deals took place amid a few economic releases from the euro-zone economy.

The euro-zone inflation stood at 1.9% in June according the preliminary release came out Friday at 5:00 am ET. Another release showed that the economic and business sentiment for the euro-zone hit higher-than-expected numbers in the month of June.

Against the dollar, the euro weakened slightly in the early Asian deals but the trend was reversed at about 10:50 pm ET. Compared to Thursday` New York session close of 1.3435, the pair has lately fetched 1.345. Investors are now looking forward to the personal consumption data for May and Chicago purchasing manager`s index for June from the U.S. As of now, immediate resistance and support levels are seen around 1.347 and 1.337 respectively.

The euro largely moved sideways against the sterling in the early Asian deals on Friday but the pair has picked up a few pips lately. Compared to its previous day`s New York session close of 0.6710, the pair is now trading at 0.6720. Investors are now looking forward to GfK`s consumer confidence report for the U.K. As of now, immediate targets are seen around 0.674 and 0.669, upside and downside, respectively.

The European currency moved sideways against the yen through late New York trading on Thursday but the pair rallied in the Asian deals on Friday. Of late, euro`s gains against the Japanese currency were extended, and the pair is now trading at 166.2 compared to the previous day`s close of 165.54. There were several economic reports from the Japanese economy today and are likely to have influenced the recent deals. As of now, an immediate level of resistance is seen around 166.5 in the near term.

The euro strengthened against the Swiss franc in late New York trading on Thursday but the gains were given back in early Asian session on Friday. Moving from Thursday`s New York session close of 1.6552, the euro bought 1.6572 francs at about 12:55 am ET Friday but the pair slipped to 1.6549 shortly. Of late, the pair has bounced back and is now trading near 1.6569, with likely upside and downside targets seen around 1.6573 and 1.6543 respectively.

Swiss Franc Sees Choppy Trading Versus Euro, Advances Against Other Majors, Friday, June 29, 2007 4:19:28 AM

The Swiss Franc showed choppy trading versus the Euro during the early European session on Friday. But the Franc made advances against the rest of majors. However, in the Asian deals, the Franc ticked down against most of its majors, but it was uncertain in direction versus the Euro. Deals in the Asian session were likely influenced by the Japanese unemployment rate, overall household spending and the consumer price index data.

The British GfK consumer confidence survey for the month of June is what the data expected by the traders as of now. The US personal income and spending for May, Chicago purchasing managers index for June and the University of Michigan`s consumer confidence survey for June are slated later in the morning.

The Swiss Franc gained slightly versus the U.S. dollar on late Thursday in New York. However, in the early Asian deals on Friday, the Franc lost ground and touched a low of 1.2336 at 11:00 pm ET Thursday. The pair then moved sideways but the Franc gave back most of its gains in the early European session. As of 4:18 am Eastern Time, the pair was worth 1.2313.

In the early Asian deals on Friday, the Swiss Franc showed choppy trading against its European counterpart. At about 12:10 am Eastern Time, the Franc slid briefly but it showed a choppy trend again soon after. Lately the Franc has been ticking up slightly and fetched 1.6563 as of 4:18 am ET.

The Swiss Franc ticked down versus the U.K.`s Sterling in the early Asian session on Friday. After hitting a low of 2.4698 at 11:00 pm ET Thursday, the Franc entered a tight range. However, during the early European deals of the day, the Franc drifted higher and as of 4:18 am Eastern Time, the pair traded at 2.4645.

Against the Yen, the Swiss Franc strengthened on late Thursday in New York. But the pair moved in an opposite direction in the early Asian deals on Friday. Off 99.90 at 9:50 pm ET Thursday, the Franc bounced back the recent losses completely and traded further higher. However, the pair declined slightly at 2:00 am ET but it gained ground again within an hour. As of 4:18 am Eastern Time, the pair was quoted at 100.31.

Greenback Mixed Against Southeast Asian Currencies On Friday, Friday, June 29, 2007 2:54:58 AM

The U.S. currency saw a mixed performance against its Southeast Asian counterparts on Friday. While the Greenback advanced slightly versus the Hong Kong dollar, it weakened against the Singapore dollar. On the other hand, the Greenback showed choppy trading versus the Malaysian Ringgit, but it held steady with the Thai Baht.

Against the Indonesian Rupiah and the Philippine peso, the Greenback traded in a loose range. However, the Greenback gained slightly versus the Indian Rupee, but it fell heavily against the South Korean Won and touched the one and half month low.

The South Korean current account data for the month of May which was released during the Asian deals is likely to have an effect on trading in the dollar versus the South Korean Won. South Korean current account surplus amounted to U$924.7 million in May. In April, current account registered a deficit of revised US$2.1 billion.

The US personal income and spending for May, Chicago purchasing managers index for June and the University of Michigan`s consumer confidence survey for June are the key economic events expected later in the morning.

Against the Singapore dollar, the Greenback dropped as the Asian deals started on Friday. The pair gained some pips at 9:20 pm ET, but it lost ground again within an hour. The pair touched the 3-week low of 1.5310 at 10:55 pm ET Thursday and then traded sideways.

After falling briefly, the U.S. currency ticked higher versus the Hong Kong dollar in the early Asian deals on Friday. The pair thus gained from 7.8147 to 7.8173 at 11:15 pm ET Thursday. Soon after, the Greenback gave back some of its gains.

The U.S. dollar fell sharply against the Thai Baht at 11:05 am ET on Thursday in New York. The pair thus lost ground from 34.54 to 32.45 within a few minutes. The dollar then held steady at the same point and extended the same trend in the early Asian deals on Friday.

In the early Asian deals on Friday, the U.S. currency saw a choppy trend versus the Malaysian Ringgit. At about 9:35 pm Eastern Time Thursday, the pair advanced slightly but it showed choppy trading again soon after. The pair continued the same trend until about 1:45 am ET, but it declined slightly thereafter.

The U.S. dollar traded in a loose range between 0.9048 and 0.9082 against its Indonesian counterpart during the early Asian session on Friday. However, the pair edged down at 12:20 am Eastern Time and hit the low of 0.9035 within half an hour. Thereafter, the dollar bounced back completely and entered a loose range of the same limits again.

During the early Asian session on Friday, the U.S. currency traded slightly lower versus the Philippine peso. But the pair entered a loose range at about 9:15 pm Eastern Time which was limited between 46.21 and 46.41.

Against the Indian Rupee, the U.S. dollar declined slightly in the early Asian deals on Friday. After hitting a low of 40.60 at 9:20 pm ET, the pair held steady. Shortly after, the dollar bounced back the recent losses completely and strengthened further to 40.84 by about 11:35 pm ET. The pair then lost some pips.

The U.S. currency made a steep fall versus the South Korean Won during the early Asian deals on Friday. The pair advanced slightly at 12:10 am ET, but it slipped again soon after. The downtrend pushed the pair to touch the one and half month low of 923.65 by about 2:00 am ET. Of late the Greenback has been reversing the losses.

Thursday, June 28, 2007

Canadian Dollar Advances Against Major Counterparts Thursday, Thursday, June 28, 2007 12:45:15 PM

The Canadian dollar advanced against each of its major counterparts Thursday in New York. Trading took place amid a report showing that Canadian industrial and raw materials prices fell modestly in May.

The Canadian dollar advanced versus the greenback Thursday in New York. The loonie gained ground against its American counterpart for most of the morning before pulling back slightly. At 12:32 pm ET, the Canadian currency traded at a mark of 1.0624 against its American counterpart. That is compared to an intraday high of 1.0606 at 9:40 am. Greenback traders considered the release of American GDP data, but are looking forward to the 2:15 pm announcement of the Fed interest rate decision.

Versus the euro, the Canadian dollar gained ground Thursday in New York. At 12:34 pm ET, the Canadian currency fetched a mark of 1.4295 against its European counterpart. This is compared to an intraday high of 1.4285 at 9:40 am. Euro traders considered data showing the German jobless rate fell in June.

The Canadian dollar ticked higher against the sterling Thursday in New York. At 12:37 pm ET, the loonie traded at a mark of 2.1250 against its British counterpart. This is just off an intraday high of 2.1236 at 9:40 am. Sterling investors mulled data showing that U.K. housing price inflation accelerated in June.

Against the yen, the Canadian dollar moved higher Thursday in New York. The Canadian currency gained steadily for much of the morning, reaching an intraday high of 115.98 at 9:40 am ET. The loonie pulled back from some of its gains later in the morning before rising again in the early afternoon. At 12:39 pm, the Canadian dollar fetched a mark of 115.83 against its Japanese counterpart. Investors mulled data showing that Japan`s industrial production fell in May from the previous month.

Statistics Canada released its report on Canadian industrial product and raw materials prices in the month of May on Thursday, showing that prices fell modestly during the month after trending higher recently. The report showed that industrial product prices fell 0.5 percent in May after six consecutive monthly increases. The decrease reflected lower prices for motor vehicles and other transportation equipment as well as primary metal products and pulp and paper products.

Aussie Strong In Action On Thursday, Thursday, June 28, 2007 12:41:33 PM

The Australian currency rose against its counterparts in action on Thursday. The currency advanced as Australia announced total job vacancies for the three months prior to May.

The Australian currency was strong against the dollar in trading on Thursday midday. The aussie rose steadily through the day to a mark of 0.8465. On the whole, the Australian currency is near a multi-year high against its American counterpart.

In trading against the yen on Thursday, the Australian currency saw strength. The advance took the Australian dollar to a mark of 104.14 by midday trading. In general, the aussie has started to reverse a recent two week low and is moving back towards a multi-year high.

The Australian currency was strong against the euro in action on Thursday. The aussie rose to a mark of 1.5902 by the midday trading. Overall, the Australian currency is within the range of the past month after reaching a multi-year high.

Versus the British currency on Thursday, the Australian dollar saw strength in action. By the midday, the currency had risen to a mark of 2.3638. Generally, the Australian currency is within the range of the past month after reaching a multi-year high.

Australian total job vacancies in the three months to May rose 1.7%, in trend estimates. Annually, the growth was 9.9% during the period. This compared to a sequential growth of 1.0% and a yearly rise of 12.8% in the prior month.

Sterling Up Slightly Versus Other Majors, Thursday, June 28, 2007 12:09:09 PM

The British pound saw a little strength in trading against the other majors on Thursday in New York. The sterling advanced in the early part of the day and held those gains throughout the morning. Traders considered data showing house prices in the UK increased 11.1% annually and 1.1% on the month in June.

The sterling was up against the euro on Thursday in New York. The sterling fell late Wednesday night, but got back those losses and more with an early morning rise on Thursday. The pound trended down slightly before stabilizing by about 5 a.m. The currencies traded at 0.6724 at 11:20 a.m. ET. On the economic front in the euro zone, Italian consumer prices rose 0.2% in June and wholesale turnover in Germany declined at an annual rate of 1.8% in real terms.

The pound gained against the dollar on Thursday in New York. The sterling saw strength in the early morning until around 2 a.m. The sterling edged a little lower throughout the rest of the morning but kept most of its earlier gains. The currencies traded at 2.0019 at 11:45 a.m. ET. Traders considered a report from the Commerce Department showed that first quarter GDP growth was revised up to 0.7 percent but still marked the slowest pace of growth in over four years. Greenback traders are also awaiting the afternoon`s release of the interest rates, which are expected to remain at 5.25%.

The sterling was slightly up on the yen on Thursday in New York, holding gains from an early-morning rise. The pound advanced at around 2 a.m. ET before stabilizing. Trading was generally sideways from there. The currencies traded at 246.21 at noon ET. Traders considered a preliminary report released by Japan`s Ministry of Finance that showed industrial production declined 0.4% in May. However, industrial production rose 3.7% from the previous year.

European Economic News Preview For Friday, Thursday, June 28, 2007 11:54:01 AM

The UK will dominate news from Europe on Friday with the results of its GfK survey for June, amidst other British economic data. Other news from the area will include French Consumer Confidence Indicator, GDP and Producer Prices data, as well as Euro zone`s Consumer, Industrial, Economic and Services Confidence data for June. The Euro zone will also be reporting on Business Climate Indicator and the CPI Estimate for June.

The UK will report on its GfK Consumer Confidence survey for June on Friday. The previous level cam in at -2, and is expected to widen with tomorrow`s data. Other data from the area will include the M4 money supply and sterling lending for May, as well as Net Consumer Credit, Mortgage Approvals and Lending Secured on Dwellings. The GDP, Current Account and Total Business Investment numbers will also be released through the day for the first quarter.

Euro Little Moved Against Other Currencies, Thursday, June 28, 2007 11:36:19 AM

The euro saw little movement against the other majors on Thursday in New York. The currency fell slightly against the pound, but was near its overnight levels against the dollar and yen. On the economic front in the euro zone, Italian consumer prices rose 0.2% in June and wholesale turnover in Germany declined at an annual rate of 1.8% in real terms.

The euro was down against the pound on Thursday in New York. The euro advanced late Wednesday night, but gave back those gains and more with an early morning slide on Thursday. The European currency trended up slightly before stabilizing by about 5 a.m. The currencies traded at 0.6724 at 11:20 a.m. ET. Traders considered data showing house prices in the UK increased 11.1% annually and 1.1% on the month in June.

The euro was range-bound with the yen on Thursday in New York. The European currency held most of the gains it posted on Wednesday evening. The currencies bounced between 165.90 and 165.40 throughout the morning. The pair traded at 165.56 at 11:25 p.m. Traders considered a preliminary report released by Japan`s Ministry of Finance that showed industrial production declined 0.4% in May. However, industrial production rose 3.7% from the previous year.

The euro saw uncertainty against the greenback on Thursday in New York. The euro gained on Wednesday evening and into early Thursday morning. It then fell sharply at around 3 a.m., but edged back higher for the next several hours. The euro stabilized in the later morning and traded at 1.3464 at 10:50 a.m. ET, near its overnight levels. Traders considered a report from the Commerce Department showed that first quarter GDP growth was revised up to 0.7 percent but still marked the slowest pace of growth in over four years. Greenback traders are also awaiting the afternoon`s release of the interest rates, which are expected to remain at 5.25%.

Dollar Down Against Pound; Even With Other Majors, Thursday, June 28, 2007 11:11:53 AM

The dollar slipped against the sterling and was little moved against the euro and yen on Thursday in New York. Traders considered a report from the Commerce Department showed that first quarter GDP growth was revised up to 0.7 percent but still marked the slowest pace of growth in over four years.

The dollar was uncertain against the euro on Thursday in New York. The greenback fell on Wednesday evening and into early Thursday morning. It surged up sharply at around 3 a.m., but edged lower for the next several hours. The dollar stabilized in the later afternoon and traded at 1.3464 at 10:50 a.m. ET, near its overnight levels. In general, the dollar is trading near a three-week low against the euro. On the economic front in the euro zone, Italian consumer prices rose 0.2% in June and wholesale turnover in Germany declined at an annual rate of 1.8% in real terms.

The greenback fell against the pound on Thursday in New York. The greenback saw weakness in the early morning before rebounding at around 2 a.m. It climbed for a few hours but then edged lower to give back those gains. The currencies traded at 2.0025 at 11 a.m. ET. Traders considered data showing house prices in the UK increased 11.1% annually and 1.1% on the month in June

The U.S. dollar was generally flat with the Japanese yen on Thursday in New York. The buck gained on Wednesday night before slipping at around 10 p.m. ET. It edged back higher at around 2 a.m. ET Thursday and heading generally sideways from there. The currencies traded at 122.97 at 11:05 a.m. ET. Traders considered a preliminary report released by Japan`s Ministry of Finance that showed industrial production declined 0.4% in May. However, industrial production rose 3.7% from the previous year.

Wednesday, June 27, 2007

Yen Rises Against World Counterparts In Action On Wednesday, Wednesday, June 27, 2007 2:33:28 PM

The yen saw strength on Wednesday as it traded against its major world counterparts in New York. The currency moves as retail sales were released for May.

The yen advanced against its American counterpart in trading on Wednesday afternoon. The currency rose to a mark of 122.46 early on and remained strong into the afternoon action. In general, the Japanese currency is near a two week high.

Versus the sterling, the Japanese currency saw strength on Wednesday afternoon. The currency rose in the first few hours of the day, and remained near a mark of 244.65 as trading continued. On the whole, the yen is at a two week high.

The yen climbed against the euro in the first few hours of trading on Wednesday. As trading moved into the mid afternoon, the currency moved little against the euro as it stuck near a mark of 164.53. Overall, the Japanese currency is at a two week high versus the yen.

Japan`s retail sales rose 0.1% on year in May, for the first time in eight months. The latest result was consistent with the revised GDP data for the first quarter, which indicated signs of a recovery in consumer spending as it grew 0.8% during the three month period.

Energy Prices On The Rise, Wednesday, June 27, 2007 2:32:44 PM

Energy prices climbed on Wednesday following the Department of Energy`s Energy Information Administration`s weekly inventory report. Crude oil soared past $69 again after slipping towards $67 in early trading. Natural gas, heating oil and gasoline also climbed.

The report said that crude oil inventories rose by 1.6 million barrels in the week ended June 22. Meanwhile, gasoline inventories slipped 700,000 barrels. This followed an increase of 1.8 million barrels in the previous period. The level of gasoline inventories was 5.5% below last year.

Crude oil soared on Wednesday in the U.S. following the release of the weekly inventory report. Light sweet crude for August was up $1.53 to $69.30. Before the report, oil fell as low as $67.07 earlier in the morning.

Natural gas soared in the early afternoon in U.S. trading on Wednesday. July-dated natural gas was up 8.3 cents to $6.96. Before the rise, it had been trending down sharply and had reached a multi-month low.

Heating oil for July advanced on Wednesday in U.S. trading, adding 3.5 cents to reach $2.0283. Prices advanced sharply shortly after the release of the inventory report and edged higher throughout the next hour. In general, heating oil has been range-bound for two weeks.

Gasoline prices for July delivery were up slightly on Wednesday in U.S. trading. RBOB gasoline was at $2.2534, up 0.75 cents. It started the session down, but gained sharply with the inventory report. Trading was choppy in the mid-day and afternoon.

British Currency Mixed On Wednesday Afternoon, Wednesday, June 27, 2007 2:29:06 PM

The sterling was choppy against the euro and buck in trading on Wednesday afternoon in New York. The currency, meanwhile, was weak against the yen. The British pound moved as the CBI distributive trades survey results were released.

The sterling moved little against the European currency in action on Wednesday. By the mid afternoon, the British currency had bounced between a low of 0.6738 and a high of 0.6724. In general, the cable is at a weekly high against its European counterpart.

The British currency was mixed against the dollar in trading on Wednesday. By the mid afternoon, the sterling had moved between a high of 1.9981 and a low of 1.9930. Overall, the pound is near a two month high against the American dollar.

Versus the yen, the British currency saw weakness on Wednesday afternoon. The currency dropped in the first few hours of the day, and remained near a mark of 244.65 as trading continued. On the whole, the British pound is at a two week low.

The CBI distributive trades survey revealed on Wednesday that the three-month average of sales volumes remained buoyant at 31% and was considered as above average for the time of the year. However, 37% of the retailers` annual sales had increased, while 20% of the retailers surveyed reported that sales were down. The balance of 17% was in line with the long-term average and economists expectations; yet it was the lowest since November last year.

Euro Choppy Against Buck And Cable, Weak Versus Yen, Wednesday, June 27, 2007 2:22:17 PM

The euro was choppy against the dollar and sterling on Wednesday afternoon in New York, but was weak versus the yen. The European currency moved with little economic news from the area.

The euro was choppy against its American counterpart in trading on Wednesday afternoon. The currency moved in a range with a high of 1.3446 and a low of 1.3415. On the whole, the European currency is at a weekly low.

The euro moved little against the British pound in action on Wednesday. By the mid afternoon, the European currency had bounced between a high of 0.6738 and a low of 0.6724. In general, the euro is at a weekly low against its British counterpart.

The euro fell against the yen in the first few hours of trading on Wednesday. As trading moved into the mid afternoon, the currency moved little against the yen as it stuck near a mark of 164.53. Overall, the European currency is at a two week low versus the yen.

Swiss Franc Mixed Against Major Counterparts Wednesday, Wednesday, June 27, 2007 12:47:14 PM

The Swiss franc exhibited mixed results versus its major counterparts Wednesday in New York. The Swiss currency moved higher against the sterling but fell versus the yen. Meanwhile, the franc was mostly choppy in trading with the greenback and euro. Swiss currency traders considered data showing that the KOF leading indicator came in below expectations in June.

The Swiss franc was largely uncertain against the greenback Wednesday in New York. At 12:28 pm ET, the Swiss currency traded at a mark of 1.2284 against its American counterpart. That is compared to an intraday high of 1.2273 at 8:30 am and an intraday low of 1.2304 at 6:20 am. Greenback traders considered the drop in U.S. durable goods orders in May.

Versus the euro, the Swiss franc was mostly choppy Wednesday in New York. At 12:34 pm ET, the franc fetched a mark of 1.6510 against its European counterpart. This is compared to an intraday high of 1.6488 at 2:30 am and an intraday low of 1.6528 at 6:20 am.

The Swiss franc ticked higher against the sterling Wednesday in New York. The Swiss currency advanced during the early morning, reaching an intraday high of 2.4487 at 2:30 am ET. The franc pulled back from some of its gains during the mid-morning before largely leveling off around 9 am. At 12:38 pm, the Swiss currency traded at a mark of 2.4533 against its British counterpart.

Against the yen, the Swiss franc retreated Wednesday in New York. The Swiss franc slipped over the course of most of the morning, reaching an intraday low of 99.45 at 9 am ET. The Swiss currency rebounded from some of its losses to fetch a mark of 99.71 at 12:40 pm. Investors considered data showing that Japanese retail sales gained in May for the first time in eight months.

Swiss KOF leading indicator came in at 1.98 in June, the KOF Swiss Economic Institute said Wednesday. Economists expected a reading of 2.06. The indicator reading for May stood at 1.94, revised down from 1.96 initially estimated. The reading for April was revised to 1.89 from 1.90. The barometer indicates acceleration in GDP growth during the second half of this year.

Tuesday, June 26, 2007

Kiwi Little Changed Against Major Currencies, Tuesday, June 26, 2007 5:18:13 PM

The kiwi was little changed against the majors on Tuesday in New York. The New Zealand currency edged higher in the early morning, but returned most of its gains by noon ET. Trading took place amid the release of data that showed electronic card transactions in New Zealand rose 1.1% from the prior month to NZ$4.6 billion in May.

The New Zealand dollar was little changed against the greenback on Tuesday in New York. The kiwi moved higher in the early morning and touched as high as 0.7692 at 8:45 a.m. ET. From there, the New Zealand currency moved lower and moved near its overnight levels. At 4:45 p.m. the pair traded at 0.7664. Traders considered a report from the U.S. Commerce Department that revealed new home sales dropped 1.6% in May. Meanwhile, a report showed a bigger than expected drop in U.S. consumer confidence in June.

The New Zealand dollar was back at its overnight levels against the euro on Tuesday in New York. The kiwi gained in the morning until about 6 a.m. when it reversed its course. It edged lower for the rest of the morning before leveling off in the afternoon. In general, the kiwi is trading near a 16-month high against the euro. Traders considered data that showed the working day and seasonally adjusted current account of the euro area witnessed a deficit of 4.0 billion euros in April. This compares with the current account surplus of 6.7 billion euros in March, revised up from 5.4 billion euros estimated initially.

The kiwi was little changed against the sterling on Tuesday in New York. The New Zealand currency moved higher in the early morning, but began to slip back at around 6 a.m. ET. It returned all of its gains by noon ET. Afternoon dealing was generally level. In general, the kiwi is trading near a two-week high against the pound. Sterling traders awaited Thursday`s UK house prices data.

Treasury Bonds Edge Lower, Tuesday, June 26, 2007 4:17:15 PM

Treasury bonds edged lower on Tuesday. The move reversed some of the gains posted in the previous couple days, as the fixed income market continued the uncertain trading of the past week. Trading took place amid the release of a couple key economic reports, which provided information about the housing market and consumer confidence.

After a choppy start, treasuries drifted lower during the late morning. The yield on the benchmark 10-year note finished at 5.101%, a gain of 2.3 basis points.

The U.S. Commerce Department revealed that new home sales dropped 1.6% in May to an annual rate of 915,000 units. Also, April`s pace was revised sharply lower to 930,000 units from the 981,000-unit rate that had originally been announced. Meanwhile, a research firm known as the Conference Board revealed that its consumer confidence index slipped to 103.9 in June. This followed a reading of 108.5 in May and represented the lowest level since last August.

Buck Slips Against Yen; Little Changed Against Other Majors, Tuesday, June 26, 2007 3:20:43 PM

The U.S. dollar slipped against the yen and was little changed against the euro and sterling on Tuesday. Trading took place amid a report from the U.S. Commerce Department that revealed new home sales dropped 1.6% in May. Meanwhile, a report showed a bigger than expected drop in consumer confidence in June.

The dollar was choppy with the euro on Tuesday in New York and was back at its overnight levels in mid-afternoon action. The greenback rallied in the morning and hit as high as 1.3431 at 3:15 a.m. ET. The buck edged lower from there and reached an intraday low of 1.3477 at 8:30 a.m. ET. The buck moved a little higher later in the morning before stabilizing in the afternoon. The currencies traded at 1.3467 at 2:50 p.m. ET. Traders considered data that showed the working day and seasonally adjusted current account of the euro area witnessed a deficit of 4.0 billion euros in April. This compares with the current account surplus of 6.7 billion euros in March, revised up from 5.4 billion euros estimated initially.

The greenback was little changed with the sterling on Tuesday in New York. The dollar climbed in the early morning, reaching as high as 1.9958 at around 3:30 a.m. ET, but fell from there and reached as low as 2.0016 at around 8:30 a.m. ET. The buck rallied back before settling into a range by 10 a.m. ET. The pair traded at 1.9985 at 2:55 p.m. ET. Sterling traders await Thursday`s UK house prices data.

The dollar slipped slightly against the Japanese yen on Tuesday in New York. The greenback moved lower in the early morning, reaching a 12-day low of 122.80 at 5:15 a.m. ET. The buck rebounded in the late morning, though, and got back to its overnight levels. The greenback edged lower in the afternoon and traded at 123.25 at 3 p.m. ET. Early trading took place as the Bank of Japan said the corporate service price index grew 1.4% annually in May, faster than the 1% increase in the previous month.

Japanese Currency Choppy Overall On Tuesday Afternoon, Tuesday, June 26, 2007 2:37:19 PM

The Japanese currency moved little against its world counterparts in trading on Tuesday afternoon in New York. The currency moved with little economic news from the area.

The Japanese currency moved little against the British pound in trading on Tuesday afternoon. The currency held in a range with a low of 246.90 and a high of 245.38. On the whole, the Japanese yen is near a weekly high against the sterling.

Versus the euro, the yen saw little movement on Tuesday. By the mid afternoon, the Japanese currency had bounced between a low of 166.31 and a high of 165.19. Overall, the yen remains near a multi-year low against the European currency.

The Japanese yen was uncertain in trading against its American counterpart on Tuesday afternoon. The yen bounced between a high of 122.85 and a low of 123.51. In general, the Japanese currency is near a two week high against the dollar.

British Currency Uncertain Against Counterparts On Tuesday Afternoon, Tuesday, June 26, 2007 2:32:30 PM

The British currency moved little against its major counterpart on Tuesday afternoon in New York. The pound moved as the UK reported on its productivity gap.

The pound was choppy in trading against its American counterpart on Tuesday afternoon. The currency moved between a high of 2.0011 and a low of 1.9962. Generally, the British currency is near a two and a half month high against the buck.

The British currency moved little against the Japanese yen in trading on Tuesday afternoon. The sterling held in a range with a high of 246.90 and a low of 245.38. On the whole, the British pound is near a weekly low against the yen.

In trading against the euro on Tuesday afternoon, the British currency saw little movement as action progressed. The pound bounced between a low of 0.6738 and a high of 0.6727. Overall, the British currency is near a weekly low against the euro.

The UK has succeeded in narrowing the productivity gap with other major economies like France, Germany and the USA. Yet output per hour worked in the UK trailed Germany`s productivity by 13%, while output per hour worked in the UK was 20% below that of France and 18% below that of the US.

Sterling Weakens Further To Yen, Choppy To Other Majors, Tuesday, June 26, 2007 8:00:36 AM

The sterling added to losses from the previous session against the yen while seeing choppy dealing against the dollar and euro Tuesday morning in New York. With no major data expected Tuesday, traders await Thursday`s UK house prices data.

The sterling gave back early gains to the euro Tuesday morning in New York, slipping to .6737 after reaching .6726 overnight. Traders considered data showing German import prices recorded 0.6% annual growth in May.

The sterling was range-bound against the dollar Tuesday morning in New York, moving between 1.996 and 1.9995 in early dealing. Trading took place ahead of U.S. consumer confidence figures for June and new home sales for May.

The pound extended losses from the previous session against the yen Tuesday morning in New York, falling to 245.22 before recovering to fetch 246.18 at 7:30 am ET. Investors mulled data showing that the Japanese corporate service price index rose 1.4% from the previous year.

Euro Slips Further To Yen, Uncertain To Other Majors Tuesday Morning, Tuesday, June 26, 2007 7:40:04 AM

The euro fell further against the yen, but bounced back against the dollar and sterling Tuesday morning in New York. Traders considered data showing German import prices recorded 0.6% annual growth in May.

The euro extended a decline from the previous session against the yen Tuesday morning in New York, falling further from last week`s record peak. The euro slipped to a 2-week low of 165.10 in early dealing before recovering a bit to fetch 165.65 at 7:15 am ET. Investors mulled data showing that the Japanese corporate service price index rose 1.4% from the previous year.

The euro saw choppy dealing against the dollar Tuesday morning in New York, rising to 1.347 after slipping to 1.3432 in early dealing. Trading took place ahead of U.S. consumer confidence figures for June and new home sales for May.

The euro bounced back and forth against the sterling Tuesday morning in New York, climbing to .6737 after slipping to .6726 in early trading. With no major data expected Tuesday, traders await Thursday`s UK house prices data.

Yen Advances Against Major Counterparts Monday Morning, Tuesday, June 26, 2007 7:01:49 AM

The yen advanced against each of its major counterparts Tuesday morning in New York. The Japanese currency moved to near two-week highs versus the euro and greenback. Investors mulled data showing that the corporate service price index rose 1.4% from the previous year.

The yen advanced to its highest mark in nearly two weeks against the greenback Tuesday morning in New York. The Japanese currency gained ground through much of the early-to-mid morning, reaching an intraday high of 122.80 at 5:20 am ET. The yen pulled back from some of its gains soon after, fetching a mark of 122.94 against its American counterpart at 6:47 am. This is compared to an intraday low of 123.49 at 1 am. Greenback traders looked ahead to Tuesday`s release of new home sales in May.

Against the euro, the yen moved ahead to a nearly two-week high Tuesday morning in New York. The Japanese currency advanced through most of the early-to-mid morning to hit an intraday high of 165.11. The yen pulled back from some of those gains after that to trade at a mark of 165.45 at 6:52 am against its European counterpart. Traders considered data showing that French housing starts in May fell 4.7% during the three months to May.

The yen ticked higher against the sterling Tuesday morning in New York. The Japanese currency gained ground through most of the early and mid-morning, reaching an intraday high of 245.22 at 5:20 am ET. The yen pulled back from some of its gains, fetching a mark of 245.74 against its British counterpart at 6:55 am. This is compared to an intraday low of 246.83 at 12:50 am. Sterling investors looked ahead to Thursday`s release of nationwide housing prices for June.

The Japan Corporate service price index rose 1.4% from the previous year for the tenth consecutive month, a report from Bank of Japan showed Tuesday. Last month, the index climbed a revised 1.0% from a year ago. The CSPI stood at 94.2 points in May, up 0.1% from the prior month, when it remained unchanged over March.

British Pound Lower To Yen, Gains Ground Against Other Majors During European Session, Tuesday, June 26, 2007 5:43:54 AM

The British Pound trended lower versus the Japanese Yen during the European session on Tuesday. On the other hand, the Pound gained ground against the rest of majors. The Pound was higher against the Franc ahead and amid the release of the Swiss UBS consumption indicator for the month of May.

The German May import price index data released at 2:00 am ET caused very little price action in the Pound versus the Euro. But the Italian June business confidence and the Euro-Zone April current account data which were also released during the session helped the Cable to trade further higher.

The UBS Consumption Indicator, which signals private consumption trends in the Swiss economy, slid to 2.09 in May from a revised 2.38 for April, equaling the March reading. Markets were looking for a reading of 2.40 in May.

The traders are now looking for the US new home sales for May and the consumer confidence data for June which are slated for later in the morning.

Against the US dollar, the U.K.`s Cable showed choppy trading on late Monday in New York. The pair resumed the same trend in the early Asian deals on Tuesday. At about 2:30 am ET, the Cable slipped slightly and touched a low of 1.9957 within an hour. Soon after, the Cable bounced back completely and strengthened further. As of 5:40 am Eastern Time, the pair traded at 1.9994.

During late Monday in New York, the British Pound traded in a tight range versus the Euro. At about 8:35 pm ET, the Pound gained some pips but it gave back the gains within an hour and entered a range again. However, in the early European session on Tuesday, the Pound ticked up and has been continuing its uptrend currently. As of 5:40 am Eastern Time, the pair was quoted at 0.6731.

The U.K.`s Sterling ticked down against its Japanese counterpart on late Monday in New York. The Sterling lost ground further in the early Asian deals on Tuesday, but by about 9:15 pm ET Monday the pair advanced slightly. But the Sterling edged down soon after and extended its downtrend into the early European session of the day. As of 5:40 am Eastern Time, the pair collected 245.51 and this is the four day low.

The British currency moved sideways versus the Swiss Franc in the early Asian deals on Tuesday, but by about 10:50 pm ET Monday the pair weakened. Off 2.4505 at 2:30 am ET, the Cable reversed the recent losses completely and spiked further higher to 2.4595 after two hours. The pair then declined slightly and as of 5:40 am Eastern Time, it was worth 2.4563.

Monday, June 25, 2007

Yen Sees Strength Versus Other Majors, Monday, June 25, 2007 6:55:58 PM

The Japanese yen gained on the other majors on Monday in New York amid choppy trading. The currency moved away from long-term lows against the dollar, euro and sterling seen last week. With no major economic news out of Japan on Monday morning, traders looked ahead to the release of corporate service prices for May, which is scheduled for Monday evening Eastern Time.

The yen advanced against the U.S. dollar on Monday in New York. The yen advanced sharply early, hitting as high as 123.31 at 6 a.m. ET. It fell starting at around 8 a.m. and was back at its overnight levels by morning`s end. The yen began to move higher again in the afternoon and surged up sharply beginning at around 2 p.m. ET. It cooled in the late afternoon and the pair traded at 123.59 at 6:45 p.m. ET.

The yen remained up against the euro Monday in New York, but slumped to lose a lot of its earlier gains. The Japanese currency gained sharply in the early morning and got as high as 165.93 at 6 a.m. ET. However, it declined for about three hours after that and then continued to trend even lower through the rest of the morning. The Japanese posted more gains in the early afternoon. The currencies traded at 166.45 at 6:45 p.m. ET.

The yen was up against the sterling on Monday in New York despite a mid-morning slip. The yen fell in the early hours before stabilizing at around 6 a.m. ET. The currency weakened at around 8 a.m. and gave back a little more than half of its prior gains. The yen rallied again in the afternoon until about 4 p.m. when it cooled again. The pair traded at 246.98 at 6:45 p.m. ET. In general, the yen is trading near a multi-year low against the pound.

Singapore Currency Generally Up On Other Majors, Monday, June 25, 2007 6:40:12 PM

The Singapore dollar saw a little strength in trading against the other majors on Monday in New York. The currency was slightly up on the euro and sterling and remained range-bound against the dollar.

The Singapore dollar remained range-bound with the greenback on Monday in New York. The kiwi traded between 1.5357 and 1.5387 throughout the day. The currencies traded at 1.5377 at 5:45 p.m. ET. The pair has been in a range since late last week.

The Singapore currency was slightly up against the euro on Monday in New York. The Singapore dollar gained in the early morning hours and remained up for the day through choppy dealing. The pair traded at 2.0679 at 5:45 p.m. ET.

The Singapore dollar strengthened against the British pound on Monday in New York. The Singapore currency saw its most significant gains in the mid-to-late morning, touching as high as 3.0661 at 11:45 a.m. ET. It edged lower in the afternoon and traded at 3.0690 at 5:45 p.m. ET.

Aussie Generally Lower Against Majors, Monday, June 25, 2007 6:32:54 PM

The Australian dollar was generally lower against the other majors on Monday in New York. The aussie slipped away from a multi-year high against the U.S. dollar and also slipped against the euro. The Australian currency was generally range-bound with the sterling.

The aussie moved away from a multi-year high against the dollar on Monday in New York. The Australian currency dropped in the morning, but rebounded at around 7 a.m. ET. It trended down from there, however, and dropped even more sharply in the mid-afternoon. The aussie rebounded back to 0.8473 by 6:10 p.m. ET.

The aussie was choppy within a range against the sterling on Monday in New York. The aussie touched as high as 2.3511 at 10:45 a.m. and as low as 2.3615 at 3 p.m. ET. In general, the pair has been range-bound for about five days.

The Australian dollar fell against the euro on Monday in New York. The currencies were generally trading sideways until about 2 p.m. when the aussie fell sharply. It got as low as 1.5915 at 3:15 p.m. ET. The aussie rebounded back to 1.5888 by 6:15 p.m. ET.

Kiwi Uncertain Versus Other Majors, Monday, June 25, 2007 5:53:24 PM

The New Zealand dollar was uncertain with the major currencies on Monday in New York. The kiwi slipped slightly against the dollar and euro and was little changed with the pound. There was little economic news out of New Zealand on Monday.

The New Zealand dollar was down slightly amid choppy trading with the U.S. dollar on Monday in New York. The kiwi climbed as high as 0.7673 at around 9 a.m. ET and fell as low as 0.7635 at around 3:15 p.m. The pair traded at 0.7651 at 5 p.m. ET. Greenback traders considered a report from the National Association of Realtors released Monday that showed that existing home sales edged down 0.3 percent to an annual rate of 5.99 million units in May from an upwardly revised pace of 6.01 million in April.

The kiwi and euro were choppy on Monday in the U.S. The New Zealand currency climbed in the morning but moved lower in the afternoon. It bounced back in the late afternoon and was slightly below its overnight levels at 5 p.m. ET. Investors considered data showing that German consumer confidence was higher-than-expected in June.

The New Zealand dollar was uncertain with the British pound on Monday in New York. The kiwi slipped in the early morning, but gained sharply at around 7 a.m. ET. It added further gains until the late morning but then dropped again through the first few hours of the afternoon. The New Zealand currency rebounded in late afternoon trading and was near its overnight levels at 5:15 p.m. In general, the kiwi is trading near a two-week high.

Economic Preview: New Home Sales And Consumer Confidence Due Out Tuesday, Monday, June 25, 2007 3:57:32 PM

A couple closely-watched economic reports are due out on Tuesday, as traders continue to wait for the Federal Reserve announcement due out later in the week. Tuesday`s data will provide further information about the housing market, as well as give statistics about consumer confidence.

At 10 am Eastern Time, the government will issue statistics about sales of newly-built homes. Economists expect the measure to edge down in May compared to the annual rate of 981,000 units recorded for the previous month. On Monday, an industry report showed that sales of previously-owned homes slipped 0.3% in May to reach a pace of 5.99 million units.

At the same time, a research firm known as the Conference Board is scheduled to give results of its monthly consumer confidence survey. Economists expect the report`s main index to moderate in June following an increase to 108 during the previous month. The Conference Board`s report will be the first important measure of consumer attitudes to be announced this week. On Friday, the University of Michigan`s consumer sentiment index will be announced.

Treasury Market Reaches 2-Week High, Monday, June 25, 2007 3:30:06 PM

Treasury bonds gained ground on Monday, pushing yields lower. With the move, the market climbed to its highest level in more than 2 weeks. Trading took place amid the release of the first of this week`s key housing reports.

Treasuries rose steadily for the first hour or so of the session. There was a moderation during the middle of the day, but bonds drifted back toward their highs as the close approached. The advance added to a gain posted on Friday and took the market reached its highest level since June 7. The yield on the benchmark 10-year treasury dropped 6 basis points to close at 5.078%.

During the morning, the National Association of Realtors revealed that sales of previously-existing homes ticked down 0.3% in May to reach an annual rate of 5.99 million units. This largely matched the expectation of analysts. Meanwhile, housing inventories climbed 5% in the month. On Tuesday, the government will announce sales of newly-built homes.

Swiss Franc Higher To Euro, Declines Against Other Majors During European Session On Monday, Monday, June 25, 2007 4:53:49 AM

During the European session on Monday, the Swiss currency trended higher versus the Euro, but it declined against the rest of majors. The German GfK consumer confidence data for July which was released at 2:10 am ET weakened the Franc slightly against the Euro, but it spiked higher soon after.

German GfK consumer confidence indicator improved to 8.4 points in July. Economists were looking for a reading of 7.9 points. The number for June was revised to 7.4 points from 7.3 points estimated earlier.

The traders are now looking for the US existing home sales data for the month of May which is slated for 10:00 am ET, followed by the Japanese corporate service price index data for the same month later in the day.

The Swiss Franc advanced slightly versus the US dollar in the early Asian deals on Monday and hit a high of 1.2280 at 9:20 pm ET Sunday. Soon after, the Franc lost some pips and entered a tight range. The Franc ticked down again at about 1:10 am Eastern Time and hit a low of 1.2312 after two hours. The Franc then gained slightly and as of 4:50 am ET, the pair collected 1.2297.

During late Sunday in New York, the Swiss Franc ticked up slightly against its European counterpart. After collecting as much as 1.6540 at 8:05 pm Eastern Time Sunday, the Franc declined slightly and showed a choppy trend thereafter. This came ahead of the release of the German July GfK consumer confidence data. Following the release, the Franc fell briefly but it bounced back soon after and strengthened further. As of 4:50 am ET, the pair was worth 1.6531.

The Swiss Franc traded slightly higher versus the British currency during the early Asian deals on Monday. However, at about 9:00 pm ET, the Franc gave back the gains completely and slipped further. The Franc extended its downtrend into the European session of the day and touched as low as 2.4609 at 3:10 am ET. Thereafter, the Franc reversed a few of its losses and fetched 2.4570 as of 4:50 am Eastern Time.

In the early Asian deals on Monday, the Swiss currency gained some momentum against the Japanese Yen. The uptrend helped the pair to fetch a high of 100.83 at 9:20 pm ET Sunday and then moved sideways. However, at about 2:00 am Eastern Time, the Franc started to weaken and has been moving further lower lately. As of 4:50 am ET, the pair traded at 100.52.

Yen Reverses Friday`s Losses Across The Board, Monday, June 25, 2007 4:46:40 AM

The Japanese yen stayed feeble across the board during the Asian deals on Monday. This came as investors showed no interest in the low-yielding currency and being short of data to be influential in the session.

Yet, during the early European session, the Japanese currency progressed up against the major currencies and has reversed most of its losses incurred on Friday against them.

The currency of the Asian major has collapsed last week to a 4 Ѕ year low against the dollar, record low against the euro and to new multi-year lows versus the rest of majors.

The fall of the Japanese currency was attributed to the increased interests of carry traders who continued selling the yen against the other high-yielding currencies.

Reuters report that the yen plunged to a 16-year low versus the Swiss franc amid conjectures of a rate hike by the Swiss National Bank in the near term. The Swiss currency is also a low-yielding one with the key interest rate at 2.5% at present in the economy.

The Japanese yen drifted lower against the US dollar in the early Asian session on Monday. Against the Friday`s close of 123.86, the pair equaled 123.90 before gaining ground by about 2:00 am ET. Of late, the pair has touched as low as 123.52, which is a resistance level in the near term. If the pair gains further, 122.0 can be a longer term key level of resistance. Against the pound, the Japanese currency trended slightly lower during the early Asian deals on Monday. Compared to the Friday`s close of 247.45, the pair was quoted at 247. 76 toward the end of the session, and then it changed its course. As of now, the pair is trading near 247.0 and is likely targeting 246.9, upside in the near term.

The Japanese currency dropped a few pips against the Swiss franc in early Asian deals on Monday and the pair hit as low as 100.83 against the Friday`s close of 100.76. However, by about 2:00 am ET, the Japanese yen gained momentum versus the alpine currency, and the pair is now trading near 100.50. If the yen moves further uphill, 100.00 can be a near term resistance level in all probability.

Against the euro, the yen shed a few pips in early Tokyo deals on Monday. Put side by side with the Friday`s close of 166.75, the pair fetched 166.88 during this time period and then it reversed its course. As of now, the pair has been trading near 166.2, likely aiming 166.0 as a resistance level in the near term. The yen saw potency against its European counterpart despite a strong German consumer confidence data from the GfK recently.

Dollar Mixed Against Southeast Asian Currencies On Monday, Monday, June 25, 2007 2:26:48 AM

The US dollar saw a mixed dealing against its Southeast Asian counterparts on Monday. While the dollar surged versus the Malaysian Ringgit, it slipped against the Hong Kong dollar. However, the US dollar traded in a loose range versus the Singapore dollar, but it held steady with the Thai Baht.

Against the Philippine peso, the dollar largely showed choppy trading during the session. On the other hand, the dollar advanced versus the Indian Rupee, but it was down against its Indonesian and the South Korean counterparts.

The Singapore May consumer price index and the South Korea Q2 consumer sentiment index data which were released during the session is likely to have an effect in the Greenback versus the Singapore dollar and the South Korean Won respectively.

Singapore annual inflation accelerated to 1.0% in May from 0.6% which was registered in April. Economists were looking for an inflation of 0.8%. Compared to last month, consumer prices climbed 0.3% versus 0.4% in April.

South Korean consumer confidence indicator improved to 108 in the second quarter, a survey result of the Bank of Korea indicated. This is the highest reading since the first quarter of 2006, when the index showed a reading of 109.

After falling briefly in the early Asian deals on Monday, the US currency traded in a loose range versus the Singapore dollar. The range was limited between 1.5379 to 1.5391. Lately the pair has been resuming the same trend.

Against the Hong Kong dollar, the Greenback trended lower as the Asian deals started on Monday. At about 9:10 pm ET Sunday, the pair reversed some of its losses but it edged down again within an hour. After hitting a low of 7.8130 at 10:30 pm ET, the Greenback followed a sideways movement.

During the early Asian deals on Monday, the US dollar spiked higher versus the Malaysian Ringgit. The uptrend helped the pair to fetch a high of 3.4660 at 11:00 pm ET Sunday. Soon after, the dollar gave back a few of its gains.

The US dollar gained some momentum against its Indonesian counterpart in the early Asian deals on Monday. However, at about 9:35 pm ET Sunday, the pair gave back the gains completely and declined further. The dollar thus lost ground from 0.9036 to 0.9003 by about 12:40 am ET. The pair then moved sideways.

In the early Asian deals on Monday, the Greenback traded slightly higher versus the Philippine peso and collected as much as 46.15 at 8:45 pm ET Sunday. Thereafter, the pair gave back the gains completely and showed a choppy trend.

Against the Indian Rupee, the US dollar dropped slightly during the early Asian deals on Monday. The pair touched a low of 40.55 at 9:20 pm ET Sunday and then held steady. After about a couple of hours, the dollar rebounded the recent losses completely and advanced further.

As the Asian deals started on Monday, the Greenback made a steep fall versus the South Korean Won. The downtrend pushed the pair to touch the session`s low of 926.00 at 12:05 am Eastern Time and then bounced back some of its losses.

Dollar Detains Friday`s Lows Across The Board, Existing Home Sales Data In Focus, Monday, June 25, 2007 2:03:32 AM

The U.S dollar showed diverse performance in the early Asian deals on Monday. The greenback trended slightly lower against the British pound but remained rang-bound near Friday`s close against the rest of majors.

Versus the yen, the buck curved in initially but has reversed the losses and started moving sideways to some extent above Friday`s close, lately. Deals in the dollar-yen pair took place amid a lack of information from the Japanese economy.

On the whole, the U.S. currency detained its lows against the majors it touched on Friday. On Friday, the greenback was profoundly weak against most other majors, but despite a fall in the afternoon deals, it had closed slightly above the previous day`s close vis-а-vis the yen.

Friday`s deals have made the greenback hit a two-week low against the euro and the franc, while a7-week low against the pound. However, against the yen, the dollar has been lately moving somewhat below the new multi-year high of 124.12, knocked on Friday.

The buck is likely to remain weak on Monday as the May month home sales numbers, which are scheduled to be released later in New York, are projected to touch multi-year lows.

Signals of a weaker economy is alarming the markets about a rate cut by the Federal Open Market Committee in the near term. The rate decision is due on Thursday, and the general market consensus is a holding back to the existing 5.25%.

Falling solidly on Friday, the dollar closed the day`s deals at 1.3466 against the euro. The losses made the pair be sold at a two-week low, and it is still remaining weak as the markets await the German GfK consumer confidence data. The German data has been listed to be released at 2:10 am ET Monday. Of late, the pair has been bouncing between 1.3457 and 1.3471 with immediate resistance and support levels seen around 1.3435 and 1.3500.

The U.S currency remained largely sideways against the Swiss franc after the pair struck a two-week low on Friday. Late New York Sunday, the pair slipped briefly, but the losses have been reversed lately. However, with the recent moves, the pair has not stepped out of the loose range, which is being upheld after hitting Friday`s low. Compared to the Friday`s close of 1.2286, the pair has been lately priced at 1.2295, and 1.2298 may be considered as an immediate resistance level in the near term. Downside, the dollar is likely to set the initial target around 1.2280.

Against the Japanese yen, the greenback had shown weakness in late Sunday New York deals, but in the Asian session Monday, the pair inverted its direction. Put side by side the Friday`s close of 123.86, the pair waned to 123.61 by about 5:05 pm ET Sunday, but has inversed its direction, lately. Of late, the pair dollar has been obtaining 123.90 yen and if moves further higher, early resistance may be tested near 124.0.

The U.S dollar continued lower against the sterling in the early Asian deals on Monday and the pair hit as high as 1.9997 by about 10:05 pm ET. This compares to the Friday`s close of 1.9984 which set a nearly two-month low for the buck against its British counterpart. However, the pair has picked up a few pips towards the end of the session and is trading near 1.9989 lately. As of now, a resistance in the near term is seen around 1.9982.

Aussie Higher Across The Board During Early Asian Deals On Monday, Monday, June 25, 2007 12:32:06 AM

During the early Asian deals on Monday, the Australian dollar traded higher against its major counterparts. The Australia commodity export earnings data which was released during the session is likely to have an effect on the major Aussie pairs. Of late, the Aussie has been moving sideways against the Greenback and the Yen, but it is weakening slightly versus the rest of majors.

The German import price index for May and the GfK consumer confidence survey for July are expected during the European session on Monday. The US existing home sales data for May is slated for later in the morning.

Against the U.S. currency, the Australian dollar showed choppy trading in the evening hours on Sunday in New York. The pair started ticking up at 7:15 pm ET and hit as high as 0.8501 by about 10:35 pm Eastern Time. The Aussie then followed a sideways movement and as of 12:30 am ET Monday, it was quoted at 0.8491.

During late Sunday in New York, the Australian dollar drifted higher versus the European currency. The Aussie carried over its uptrend in the early Asian deals on Monday and fetched a high of 1.5845 at 10:25 pm ET Sunday. Thereafter, the Aussie shed some pips and collected 1.5865 as of 12:30 am Eastern Time.

The Australian dollar moved sideways against its Canadian counterpart on late Sunday in New York. However, in the early Asian deals on Monday, the pair gained ground and collected as much as 0.9087 at 10:10 pm ET. Soon after, the Aussie weakened slightly and as of 12:30 am Eastern Time, the pair was worth 0.9077.

The Australian currency traded in a tight range versus the Japanese Yen during late Sunday in New York and it was limited between 104.80 to 105.09. But the pair ticked higher in the early Asian deals on Monday. The uptrend helped the Aussie to hit a high of 105.29 by about 9:45 pm Eastern Time and then entered a tight range again. As of 12:30 am ET, the pair fetched 105.18.

Thursday, June 21, 2007

Aussie Gains On Majors, Thursday, June 21, 2007 5:45:23 PM

The aussie gained on the U.S. dollar on Thursday in New York and traded near an 18-year high. The Australian currency advanced in the early morning and then edged higher in the afternoon. The pair traded at 0.8473 at 5:15 p.m. ET.

The aussie gained on the euro on Thursday in New York. The currency climbed in the early morning and then added further gains in the latter afternoon. The pair traded at 1.5809 at 5:15 p.m. ET.

The Australian dollar was range-bound with the sterling after an early morning rise on Thursday in New York. The aussie climbed for about two hours, starting at around 4 a.m. ET. The currencies remained near that mark through the afternoon, with the aussie touching a daily high of 2.3496 at 2:30 p.m. ET.

Kiwi Little Changed Against Other Majors, Thursday, June 21, 2007 5:01:19 PM

The kiwi was virtually unchanged against the major currencies on Thursday in New York. The New Zealand dollar remained near highs against the dollar, euro and sterling. There was little economic news out of New Zealand on Thursday.

The New Zealand dollar was uncertain with the U.S. dollar on Thursday in New York. After losing ground in the morning, the kiwi edged higher in the afternoon. The pair traded at 0.7635 at 4:30 p.m. ET. In general, the New Zealand dollar is trading near a multi-year high against the greenback.

The kiwi was generally little changed against the euro on Thursday in New York. After an overnight rise, the New Zealand dollar trended down for most of the morning. It edged higher in the afternoon. By 4:45 p.m. ET, it was a little above its overnight levels. Overall, the kiwi is near its highest level in more than a year against the euro.

The New Zealand dollar was relatively unchanged against the sterling on Thursday in New York. The kiwi saw a little weakness in the late morning, but rebounded in the afternoon. By around 5 p.m. ET, the currencies were back at their overnight levels. In general, the kiwi is trading near an 11-day high.

Treasury Bonds Fall For Second Consecutive Day, Thursday, June 21, 2007 3:50:36 PM

Treasury bonds lost ground on Thursday, continuing selling that began during the previous session. Traders considered a few economic reports, including a closely-watched regional manufacturing survey from a branch of the U.S. central bank.

Treasuries slipped at the outset of trading and added to their losses late in the day. This pushed yields higher. The fall continued weakness that took place on Wednesday, when the fixed income market halted a recent bout of bargain hunting. On Thursday, the yield on the benchmark 10-year note rose 4 basis points to reach 5.163%.

In the middle of the day, the Federal Reserve Bank of Philadelphia revealed that its diffusion index of current activity rose to 18 in June from a level of 4.2 in the previous month. This marked the highest level since April of 2005. Any reading above zero indicates expansion in the region`s manufacturing sector.

Earlier in the day, the U.S. Labor Department revealed that initial jobless claims, a measure of people filing for first time unemployment benefits, rose 10,000 last week to reach 324,000. This surprised economists, who were generally expecting a slight decline. Also in the morning, a research firm known as the Conference Board announced that its index of leading economic indicators climbed 0.3% in May. This index compiles 10 economic statistics that tend to move ahead of changes in the overall economy.

Dollar Uncertain Against Other Major Currencies, Thursday, June 21, 2007 3:14:59 PM

The U.S. dollar was little changed against the other majors on Thursday in New York. The greenback was very close to its overnight levels against the euro, sterling and yen in the mid-afternoon. Traders considered the Department of Labor`s report that showed jobless claims unexpectedly increased compared to the previous week and also the afternoon`s release of the Philadelphia Fed Index, which showed that the pace of growth in the sector accelerated much more than expected.

The U.S. dollar was up slightly against the euro amid choppy trading on Thursday in New York. The greenback gained sharply at around 3 a.m. ET and remained near that level for several hours. The dollar declined, however, at around 8 a.m. to give up those gains. The buck edged higher in afternoon trading, following the release of the Philadelphia Fed Index. The pair traded at 1.3385 at 2:45 p.m. ET. Trading took place following the release of data showing that German construction orders rose 0.5 percent annually in April.

The dollar saw uncertain trading against the sterling on Thursday in New York. The greenback got as low as 1.9938 at 2:45 a.m. and rebounded to climb as high as 1.9895 about three hours later. The greenback slipped over the next two hours to return close to the daily low again. It edged higher in the mid-morning and then settled into a range. The buck traded at 1.9921 at 3 p.m. ET, slightly below its overnight levels.

The U.S. dollar was choppy with the Japanese yen on Thursday in New York and traded near its overnight levels in the mid-afternoon. The dollar climbed to as high as 123.75 at 3:15 a.m. ET and got as low as 123.50 at 9:45 a.m. It moved higher until about 2 p.m. ET. It cooled slightly from there and the pair traded at 123.69 at 3 p.m. ET. Traders considered data showing Japan`s trade surplus was up for the seventh straight month, but at a much slower pace than analysts expected.

The Federal Reserve Bank of Philadelphia released its report on business activity in the mid-Atlantic region`s manufacturing sector in the month of June on Thursday, showing that the pace of growth in the sector accelerated much more than expected. The report showed that the general business activity index surged up to 18.0 in June from 4.2 in May, with a positive reading indicating growth in the sector. Economists had expected a more modest increase to a reading of about 8.0. Thursday morning, the Department of Labor released its report on initial jobless claims in the week ended June 16, showing that jobless claims rose to 324,000 from the previous week`s revised figure of 314,000. Economists had been expecting claims to edge down to 310,000 from the 311,000 originally reported for the previous week.

Japan`s trade surplus marked its seventh straight month of growth in May, though the pace was slower than what was anticipated by analysts, the government data indicated Thursday. According to a preliminary report from the Ministry of Finance, trade surplus rose 9.3% from the previous year to 389.5 billion yen in May. This came lower than the expected surplus of 540.0 billion yen for the month. The report said that the surplus with the US dropped 12.9% from last year to 543.7 billion yen, as growth in exports to the US continued to be sluggish.

Yen Choppy Against Counterparts On Thursday Afternoon, Thursday, June 21, 2007 2:50:01 PM

The Japanese yen saw little movement in trading on Thursday afternoon in New York against its world counterparts. The yen moved with little economic news from the area.

The Japanese currency saw choppy movement against the sterling in trading on Thursday. As action moved into the mid afternoon, the currency held between a low of 246.49 and a high of 245.99. On the whole, the Japanese yen is at a multi-year low.

Against the euro in trading on Thursday, the Japanese yen saw choppy action on Thursday. The yen bounced between a low of 165.73 and a high of 165.40 into the mid afternoon. Overall, the currency is at a multi-year low.

The Japanese yen was choppy in trading against the American dollar on Thursday. The currency bounced between a low of 123.73 and a high of 123.51. In general, the yen is at a multi-year low against the dollar.

British Pound Choppy On Thursday Afternoon, Thursday, June 21, 2007 2:31:26 PM

The pound was choppy against its major counterparts in trading on Thursday afternoon in New York. The currency moved as the UK reported on its car production for the three months prior to May.

In trading against the euro, the sterling saw little direction in action on Thursday. By the mid afternoon, the currency had moved between a low of 0.6725 and a high of 0.6712. Generally, the British currency is at a four month high.

Versus the American dollar, the British currency saw little movement on Thursday afternoon. The sterling bounced between a high of 1.9934 and a low of 1.9898 as action progressed. Overall, the British currency is at a two week high.

The British currency saw choppy movement against the yen in trading on Thursday. As action moved into the mid afternoon, the currency held between a high of 246.49 and a low of 245.99. On the whole, the British pound is at a multi-year high.

U.K total car production fell 3.9% annually during three months to May. Total car output grew 4.9% compared to previous three months.

Euro Choppy Overall On Thursday Afternoon, Thursday, June 21, 2007 2:23:00 PM

The euro was choppy in action against its major counterparts in trading on Thursday afternoon in New York. The currency moved with little economic news from the area.

The euro was mixed in trading against the dollar in trading on Thursday. The euro bounced between a high of 1.3403 and a low of 1.3375 by the mid afternoon. On the whole, the euro is at a weekly low against its American counterpart.

In trading against the pound, the euro saw little direction in action on Thursday. By the mid afternoon, the currency had moved between a high of 0.6725 and a low of 0.6712. Generally, the European currency is at a four month low.

Against the Japanese yen in trading on Thursday, the euro saw choppy action on Thursday. The euro bounced between a high of 165.73 and a low of 165.40 into the mid afternoon. Overall, the currency is at a multi-year high.

Swiss Franc Retreats Against Major Currencies, Thursday, June 21, 2007 1:43:43 PM

The Swiss franc experienced weakness versus each of the major currencies Thursday in New York. Swiss currency investors mulled data showing that the nation`s trade surplus grew in May after contracting the previous month.

The Swiss franc ticked lower versus the greenback Thursday in New York. At 1:25 pm ET, the Swiss currency fetched a mark of 1.2408 against its American counterpart. This is compared to an intraday high of 1.2388 at 1:50 am and an intraday low of 1.2425 at 7:20 am. Greenback traders considered data showing the Philly Fed Index rose more-than-expected in June.

Versus the euro, the Swiss franc fell Thursday in New York. The Swiss currency experienced generally steady weakness during the early-to-mid-morning, reaching an intraday low of 1.6633 at 9:30 am ET. The franc rebounded slightly in the late morning and early afternoon to fetch a mark of 1.6625 against its European counterpart at 1:30 pm. This is compared to an intraday high of 1.6588 at 1:30 am. Trading took place amid the release of data showing that German construction orders rose 0.5% annually in April.

The Swiss franc weakened against the sterling Thursday in New York. The franc fell sharply during the early morning, hitting an intraday low of 2.4744 at 3:10 am ET. The Swiss currency leveled off for much of the rest of the morning into the early afternoon. At 1:33 pm, the franc traded at a mark of 2.4722 against its British counterpart. Traders considered data that showed demand for manufactured goods in the UK in June continued to be robust.

Against the yen, the Swiss franc edged lower Thursday in New York. The Swiss currency fell during the early and mid-morning hours, falling to an intraday trough of 99.48 at 6:30 am ET. The franc rebounded from some of its losses into the early afternoon, reaching a mark of 99.62 against its Japanese counterpart. Traders considered data showing Japan`s trade surplus was up for the seventh straight month, but at a much slower pace than analysts expected. Swiss trade surplus grew in the month of May, after contracting in the prior month, official data indicated Thursday. The Federal Administration of Customs reported that trade surplus stood at CHF1.26 billion in May, breaching the CHF1 billion-mark for the third time this year. Economists were looking for an excess of CHF1.10 billion. The latest report showed the April surplus at CHF643.4 million, while it was stated as CHF626.9 million last month.

Euro Slips Across The Board Towards Late Asian Deals, Reverses To Franc Lately, Thursday, June 21, 2007 5:35:42 AM

The euro remained downwards against most other majors during late New York trading on Wednesday, continuing its previous session weakness. However, against the sterling, the common currency held steady in this time period.

In the early Asian deals, the European currency trended slightly higher versus most other major currencies, but this time too, moved sideways against the pound.

Towards the end of the Tokyo deals, the euro slipped across the board, but has bounced back to the Swiss currency, lately.

The recent fall of the single currency may correspond to the yen`s strengthening following the hawkish comments by Toshiro Muto, the deputy governor of the Bank of Japan.

Muto said Thursday in a conference that the BoJ is committed to adjusting the interest rates in tune with the developments in the economy and the prices. He also indicated that Japan`s projected gross domestic product growth of around 2% may raise inflation expectations in the near future, while both upward and downward risks remain in the economies.

Trading took place in early European session on Thursday amid a lack of key economic data from major euro area economies. Apart from the Swiss trade balance data for May, there were a few domestic reports from Italy, but the news have failed to cause visible price effects in the euro-pairs.

Investors are now waiting for Friday`s German IFO business climate indicator for June. The index is widely expected to move down to 108.4 from its previous month reading of 108.6.

The euro trended higher against the dollar in early Asian deals on Thursday and the pair fetched as high as 1.3403 by about 2:55 am ET. The common currency then staged a fall versus the greenback, but from a session`s low of 1.3371, the pair has moved up to 1.338, lately. Largely, the pair has been on a downtrend since yesterday and if it continues, 1.332 can likely be a level of support in the near term.

The European currency trended higher against the Japanese yen during the Tokyo deals on Thursday. The pair gained momentum, likely supported by a Japanese economic release, which showed that Japan`s merchandise trade surplus grew at a slower pace in May than expected by analysts. Moving from 165.32, the pair leveled its previous session close of 165.67 towards the end of the Tokyo deals, but the euro weakened thereafter, likely pushed by the hawkish remarks by BoJ deputy governor Muto. As of now, the pair is trading near 165.4.

Against the British currency, the euro moved sideways during late New York trading Wednesday and in the early Thursday deals in Tokyo. The pair moved between 0.6719 and 0.6725 in this period, but thereafter, the pair fell sharply. By equaling as low as 0.6710 of a pound, the euro has hit a new multi-month low against that currency. If the pair weakens further, 0.668 can likely be a level of support in the long term.

Closing Wednesday`s New York deals at 1.6589, the euro held steady against the franc in the early Thursday deals in Tokyo. However, at about 8:40 pm ET, the pair gained ground and rallied to 1.6617 by about 3:00 am ET. The Swiss economic data is likely to have strengthened the common currency in the early European deals, and, as of now, the pair has been seeing uncertainty in direction. If the pair continues upwards, 1.6635 can likely be a level of resistance in the near term.

Swiss Franc Touches 5-Month Low Versus U.K.`s Cable, Drops Slightly Against Other Majors, Thursday, June 21, 2007 4:38:48 AM

During the European session on Thursday, the Swiss Franc dropped heavily versus the U.K.`s Cable and touched a five month low. But the Franc showed slight weakness against the rest of majors. The Swiss trade balance for the month of May which was released at 2:15 am ET caused very little price action in the major Swiss Franc pairs.

Swiss trade surplus amounted to CHF1.3 billion in May from CHF0.6 billion which was recorded last month. Economists expected a trade surplus of CHF1.10 billion. In real terms, exports grew 9.1% on year. Exports totaled CHF16.99 billion. Imports increased 9.7% to CHF15.74 billion.

The traders are now looking for the Swiss ZEW survey and the British CBI industrial trends survey - both for the month of June.

The Swiss Franc trended lower versus the dollar in the early Asian deals on Thursday. At about 8:55 pm ET Wednesday, the Franc gained a few pips and then moved sideways which was limited between 1.2388 to 1.2398. The pair extended the same trend until the Franc fell sharply at 3:05 am ET Thursday. The downtrend pushed the Franc to fetch a low of 1.2424 within a few minutes and then strengthened slightly. As of 4:37 am Eastern Time, the pair was quoted at 1.2410.

During the early Asian deals on Thursday, the Swiss currency moved sideways against its European counterpart. The Franc started to weaken at 9:35 pm ET Wednesday, but it followed a sideways movement after about a couple of hours. The Franc lost ground again at about 2:35 am ET Thursday and hit a low of 1.6623 within half an hour. Lately the Franc has been reversing the recent losses and collected 1.6611 as of 4:37 am Eastern Time.

The Swiss Franc showed choppy trading versus the U.K.`s Cable during the Asian deals on Thursday. However, the Franc moved out of the range at 2:40 am ET Thursday and fell sharply. After touching a 5-month low of 2.4750 by about 3:20 am ET, the Franc gained some pips. As of 4:37 Eastern Time, the pair was worth 2.4728.

Against the Yen, the Swiss Franc ticked down on Wednesday evening in New York. However, the pair made some advances at 7:00 pm ET, but it entered a loose range during the Asian deals on Thursday. In the European session of the day, the Franc lost ground again and hit as low as 99.57 by about 3:20 am ET. Thereafter, the pair traded slightly higher and fetched 99.64 as of 4:37 am ET.

Yen Down Across The Board In Early Tokyo Trading Thursday, Thursday, June 21, 2007 3:50:41 AM

The Japanese currency weakened against its major counterparts during early Thursday deals in Tokyo following its upward trends, held in late New York trading on Wednesday.

The deals in Tokyo were likely influenced by the Japanese trade balance data for May. The merchandise trade surplus recorded growth for the seventh month in a row, but at a slower pace than expected by analysts.

Also, the U.S. currency, strengthened following the rise in its bond yields, is likely to have added to the losses in the yen-pairs.

Lately, towards the end of the Tokyo deals, the yen staged a fall against the dollar, but it moved against the euro and the franc. In the meantime, the pound has held its upward trend against the Japanese currency.

The gains posted by the yen against the U.S. dollar in late New York trading on Wednesday made the pair equal as high as 123.41 against its previous session close of 123.61. Thereafter, the pair weakened and is now trading near its recent multi-year low of 123.7.

Against the British pound, the yen traded higher in late New York trading on Wednesday and the pair moved to 245.83 from its previous session close of 246.39. The Asian Thursday deals witnessed the yen giving up against its British counterpart and of late, the pair has been trading near 246.3. As of now, immediate upside and downside targets for the pair are seen around 245.8 and 246.6.

The Japanese yen moved up against the Swiss franc during late New York trading on Wednesday, but after hitting as high as 99.65 by about 7:00 pm ET, the pair moved downwards. During much of Tokyo Thursday deals, the pair remained uncertain about direction but has staged a brief spike, lately. As of 3:20 am ET, the pair was worth 99.5, and if it moves further higher, 98.8 can be a key level of resistance in the near term.

After showing strength in late New York trading, the yen weakened against the euro in its early Asian Thursday deals. Moving from 165.32, the pair fetched as low as 165.72 towards the end of the Tokyo deals. However, lately, the Japanese unit has staged a brief spike against the common currency and the pair is now trading near 165.5. If the yen strengthens further, 165.3 can likely be a level of resistance in the near term.

Greenback Mixed Against Southeast Asian Currencies On Thursday, Thursday, June 21, 2007 2:41:51 AM

The US currency showed a mixed performance against its Southeast Asian counterparts on Thursday. While the Greenback was down versus the Hong Kong dollar, it held steady with the Thai Baht. But the Greenback largely showed choppy trading against the Singapore dollar and the Malaysian Ringgit.

To the other major Asian currencies like the Indonesian Rupiah and the Philippine peso, the Greenback traded in a loose range. On the other hand, the Greenback showed some strength versus the Indian Rupee, but it dropped against the South Korean Won.

The US currency traded higher versus the Singapore dollar as the Asian deals started on Thursday. However, at about 8:45 pm ET, the pair gave back most of its gains and showed a choppy trend.

During the Asian deals on Thursday, the Greenback declined against its Hong Kong counterpart. The pair gained slightly at 11:00 pm ET Wednesday, but it edged down soon after. Lately the Greenback has been moving further lower.

After collecting as much as 32.5550 at 8:50 am ET on last Friday, the Greenback held steady versus the Thai Baht. However, during the afternoon deals, the pair dropped slightly and touched 32.4450 by about 2:20 pm ET. Thereafter, the Greenback held steady at the same point and has been extending the same trend currently.

Against the Malaysian Ringgit, the US dollar gained sharply in the early Asian deals on Thursday and fetched a three day high of 3.4540 at 8:15 pm ET Wednesday. Soon after, the pair lost some pips and moved sideways. Of late the dollar has been continuing the same trend.

In the early Asian deals on Thursday, the Greenback ticked up slightly versus the Indonesian Rupiah, but the pair gave back the gains completely at 10:05 pm ET Wednesday. The Greenback then entered a loose range and it was limited between 0.8888 to 0.9092.

After showing a slight uptrend during the early Asian deals on Thursday, the dollar lost ground against its Philippine counterpart. Off 45.93 at 9:40 pm ET, the pair strengthened slightly but it showed a choppy trend within a few minutes.

The US dollar ticked down slightly versus the Indian Rupee during the early Asian deals on Thursday. However, at about 11:25 pm ET, the pair bounced back completely and steadied further higher. The dollar thus gained from 40.58 to 40.81. The dollar then slipped slightly and it is currently trading at 40.75-40.76.

Against the South Korean Won, the dollar advanced slightly in the early Asian deals on Thursday. But the pair fell sharply at 9:30 pm ET Wednesday and touched the session`s low of 924.05 within an hour. The dollar then reversed some of its losses and moved sideways.

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