Forex rebates on every trade - win or lose!

mm; seems likely with a 9 - 0 vote in the mpc,
though prob not till apr/may
190.00 just gone - need hilarys' wizadry for next stop,
but looks like 188.70 to me.
really cant believe we're going back down there,
oh nice bounce off 190.00 - good support then.

Beebs: I agree, another 25 points rise then will see it through $2, IMHO, assuming no change in the Fed or Eurozone.

Beebs,

It's my guess that we're somewhere close to the bottom. It's looking oversold now, as is the /$ cross, and the uptrend is still intact. It could spend a bit of time consolidating, but I'll be surprised if it's not retesting the high again either tomorrow or Friday.

mm; the only thing worrying me about $2 is everyone knows it,
i've got a later timeframe, say june/july, by which time
pressure could be on fed to increase from 1%.

edit; tks hils

The point about this article is that it's only talk. Until such time as the ECB put their hands in their pockets and start buying the Greenback, the market will just shrug off the speculation.

LONDON (AFX) - The euro came off record highs against the dollar in late
trade after European officials expressed their discomfort at the pace of the
currency's appreciation, analysts said.
"There's been some verbal intervention that has given the market some pause
for thought," said Neil Mackinnon, chief economist at ECU Group.
The most high-profile comments came from EU economic and monetary affairs
commissioner Pedro Solbes, who described excessive exchange rate volatility as
"not acceptable".
Asked about the euro's fresh highs against the dollar, Solbes reiterated the
euro group position espoused by the G7 recently, that sharp currency movements
should be avoided.
"This is a classic stand-off between the markets and the central bankers,"
said Mackinnon.
At some stage, given the bearish sentiment towards the dollar, it will need
resolution, he added.
"I think at 1.30, we're in intervention territory," said Mackinnon.
After hitting a new all-time high of 1.2925 usd earlier this morning,
euro/dollar has slipped back to the 1.2840-50 level.
The markets have this week sought to test the ECB's resolve. Following a
bout of verbal intervention a couple of weeks ago, ECB officials have been
relatively quiet about the impact of the strong euro on European exports.
Meanwhile, sterling also came off highs against the dollar in sympathy with
the euro, even though it received a fillip from the revelation that the Bank of
England's rate-setting Monetary Policy Committee unanimously voted to raise
interest rates by 25 basis points to 4.0 pct at its last meeting.
"These minutes are very bullish for sterling," said Alan Castle, economist
at Lehman Brothers.
Elsewhere, dollar/yen broke above the 106 mark on rumoured intervention from
the Japanese monetary authorities following strong Japanese GDP data.
ECU Group's Mackinnon said there is talk in the market that the Japanese
spent upward of 5 bln usd intervening in the market overnight.
"(The Bank of Japan) seems to be, for now, holding the line," he said.
The Japanese economy grew by at an annualized rate of 7.0 pct in the fourth
quarter against expectations of 4.9 pct growth. That was its fastest rate of
growth since the second quarter of 1990.
Frank Gong, analyst at Bank of America, said he expects the Japanese
monetary authorities to remain in the market.
However, he reckons that characteristic fiscal year-end repatriation flows
will add pressure in March, with dollar/yen poised to move down to 103.

rhetoric has had an effect tonight,
got down to 189.47, which is an uncomfortable level,
still anything above 188.70 is a higher low,
and uptrend still ok.
off to bridge now, c u for us open - golf in morning if weather ok.

well was very interesting today doing forex for first time, but seems sharescope charts only run till 5-30 from what i can see,but boy does it move, thought the dow was crazy , but its even worse than the dow, dont know if ide like to scalp though, think i would burn out in under a week, might look for slighly longer term positions, any suggestions?

you following me, or me you ?
longer term the whole world thinks we're going to 2.00 to the ,
so many would take this dip ( 1.8946 currently ) as a good buying opportunity,
but wtfdik as usual........

Edit,chart sorted now, back live :-) needed to alter time scales

TOKYO, Feb 19 (Reuters) - The dollar was a touch softer on Thursday as scepticism lingered about whether a broad-based rebound a day earlier, which included a two-percent reversal rally from record lows versus the euro, was sustainable.

Against the yen, the greenback erased some losses and inched up towards the day's high on suspected intervention by Japan.

"After the dollar's rally yesterday, (the Japanese authorities) seem be letting exporters sell dollars and at the same time preventing the dollar/yen rate from going lower," said Jun Takeuchi, general manager at Gaitame.com.

By 0245 GMT, the dollar had edged up near the day's high around 106.80 yen from a low of 106.30 yen. The greenback rose as high as 107.15 yen on Wednesday.

Against the euro, the dollar stood at $1.2716/19 , down a quarter cent from late New York levels but up nearly two cents from record lows around $1.2930 hit on Wednesday.

The pound drifted about two cents below the previous day's 11-year highs around $1.9140 , while the Australian dollar was about a cent below seven-year highs around $0.80 .

While suspicion was growing that the dollar's precipitous two-year downtrend may have run its course, an absence of any clear change in the market's environment kept traders wary about trying to pick a bottom.

"The dollar rose across the board, but to see a real self-sustainable recovery, the U.S. current account deficit problem needs to peak out and this is likely to take until later in the year," said Takashi Yamanaka, senior economist at UFJ Bank.

Dealers said that Wednesday's rally was not driven by any fundamental news but a result of buy-backs by some major fund managers that snowballed into a wider short-covering spree.

TURNAROUND?

Although most traders thought the dollar's downtrend remained intact, others warned that a turnaround could not be ruled out.

"There is no consensus in the market yet, but there is a feeling that something may be changing," said Toru Umemoto, currency strategist at Morgan Stanley.
He noted that Wednesday's rally was all the more impressive as it -- ironically -- came only hours after surprisingly strong Japanese growth data, which showed the economy was booming at a seven percent annual pace in October-December, and after the dollar plunged to new lows against the euro, sterling and the Australian dollar.

"It could just be that people who had bet on an accelerated drop in the dollar on the Japanese GDP figures were disappointed by a lack of such an outcome. They didn't get a big down move after the Group of Seven meeting earlier this month either, so they might be a bit frustrated," Umemoto said.

"But we might be seeing what may be change in the trend."

Japan's Nikkei stock average (.N225: Quote, Profile, Research) climbed almost one percent at one point, buoyed by an easing of the yen against the dollar and the strong market debut for Shinsei Bank (8303.T: Quote, Profile, Research) . It ended morning trade up 0.78 percent at 10,760.40.

In the foreign exchange market, speculation was growing about whether U.S. investment fund Ripplewood Holdings would repatriate funds generated from Shinsei Bank's $2.35 bln initial public offering (IPO), as such a move could give a boost to the dollar.

Dealers recalled Oracle Corp Japan's (4716.T: Quote, Profile, Research) IPO in April 2000, which resulted in a huge amount of repatriation flows in just several days and sparked a dollar-buying spree.

For now, the market was awaiting the U.S. weekly jobless claims report due later in the day. The European Central Bank's governing council was also due to meet but no interest rate announcement is scheduled.

Cable putting on ahead of the US jobs data. The market doesn't look as though it's expecting much from the data ....... the data might need to be really sparkling to push it back.

Morning all, back from golf, and missed a bit of fun on ftse,
are figs 1.30 hils ?
that pullback last night was a big surprise - caught me off guard

Indeed they are, Beebs. 352k expected.

344k better than expected

long cable 188.82

I'm long too at 18878 looking for 1.9200. If that low at 1.8784 goes I am out.

nice entry limpy,
got a small baseline 188.80 that both you and i hit,
next below i make 188.40ish, but like you hope not to visit it.
my upside taget - more than yours, but i'm a greedy bugger,
good luck.

back to this resistance 189.20ish - if it goes we should get some
more upside

philly fed helped clear that 189.20 level
bless them

Not for long thou... :(

tellon ;~)
getting better now they've worked out it's not good for the $ !