Dollar Slumps Against Yen After Mixed Economic Data and Other Top Forex News.

By simongray on May 23, 2013 07:10:05 GMT

The dollar fell sharply against the yen on Thursday after investors reacted to Fed Chairman Ben Bernanke’s comments about potential tapering of the Fed’s bond-buying program, by selling U.S. Treasuries, which in turn caused yields of 10-year Japanese government bonds to rise to 1% before falling back later in the trading session. The volatility in [...]

Trade of the Day for May 22nd, 2013 – Long EUR/GBP

By Eric Viloria on May 22, 2013 01:45:16 GMT

EUR/GBP breaks out of consolidation, more upside expected The Bank of England minutes from the May meeting released this morning was largely as expected and showed that Governor King was once again outvoted. The soon-departing Governor voted in favor of a £25B expansion of quantitative easing (QE) along with MPC members Miles and Fisher. However, [...]

Chart of the Day for May 23rd, 2013 – GBP/USD

By DailyFX on May 23, 2013 02:12:01 GMT

By Ilya Spivak

Prices declined as expected after putting in a Shooting Star candlestick below resistance at the top of a rising channel set from mid-March. Sellers are now testing support at 1.5029, the 38.2% Fibonacci expansion, with a break below that targeting the 50% level at 1.4850. We continue tohold short, Near-term falling channel resistance is at 1.5207, with a above that aiming for the May 16 high at 1.5322.