Forex rebates on every trade - win or lose!

Worth bearing in mind that 1.3666 was the fiber high from a couple of years ago. Could be a bit of stalling around there. We'll see.

Just found a very useful foreign currency exchange tool:

http://travelmoney.moneysavingexpert.com/

cant access it at the moment...how is the dollar index doing ?

Wondering if we might be seeing a stronger $$ at least enough to get us back to test $2 to see if it now acts as a short term support level.

I'm not sure if it's "intuition" or "into wishing", but it looks to me like cable might be trying to get it up.

The jury says "into wishing". If it's to be a $2 retest, then bring it on.

OK, folks, I've posted next week's Calendar as best I can for the moment. Seymour Clearly slipped me a tenner to help out his business again. If he doesn't keep the payments up, I'll post an improved version later.

Roll up, roll up for Dr Clearly's Patent Forex Spectacles (not that I have received any back handers or anything). Extract from the Rockefeller briefing :

Yen Saga

Attention is turning to the July 29 parliamentary election in Japan, which comes less than a month before the Aug 22-23 BoJ policy meeting where the market expects the BoJ to act.

The NKS has a front page story today that if the two coalition parties (but mostly the LDP) fail to get enough votes, Abe may feel he has to resign. This has happened twice in recent years (1989 and 1998). The bare minimum number of seats Abe needs is 40. The story says that if the LDP fails and Abe resigns, the FX market is poised to trash the yen. Its not a totally silly idea, since the LDP leads on a consumption tax hike and other fiscal measures that have real economic impact.

Meanwhile, the BoJ meets next week and while no action is expected then, all it will take is a single voice calling for a hike to provide temporary yen support. As we keep warning, the yen is not a one-way street.

Dr Clearly failed to keep the bribes coming and Hilary has sent me a legible JPEG of the Calendar, so I've put that up. Sales of reading glasses will plummet.

And to think I gave you all the proceeds from the sale of my body. For a few short hours the forex specs business was booming.

Some people are so fickle.

sulks in corner

Don't worry, Seymour, you'll get another chance to flog a few pairs of your X-Ray specs again soon. The kids break up from school this week, so I'll be off on hols. You'll have to suffer the MightyMicro MicroCalendarTM till September.

Hil, don't worry too much, I'm working on making it bigger (but then, that's what I tell all the girls ;-)

It's not all about size, Delboy.

:o)

Anyone see some clear currency direction of last 2 days...
I have basically done a 'good trade' by staying basically flat

Yen feels like it could break support though

Did OK on the loonie yesterday, D, but the others were pants.

Yen big move just then...related to the unwinding of the NZD/JPY I wonder

The Yen is certainly on the turn, D, but today is all about kicking 7 colours out of the greenback. Across the board.

Apart from the poor old loonie that is.

:o)

Wonderful move on the yen against the dollar for those of us who are bearish. Dangerous to hold overnight though. Two day boj meeting coming up. Back to 123 or down towards 120?

That the trouble with a good move after lots of range trading...you are so glad to see a decent profit that you take it too early..

Yet your head tells you that a good deal of range trading once broken out of will more than likely lead to a good directional move...

It's important to let profits run so as to pay for the losses, D.

I believe that whatever technical signal you use to enter the position should also be used as your exit. Sometimes though, emotion will grab you by the short and curlies and twist and tug until you surrender.

The answer is really quite simple - get rid of your short and curlies.

:o)