FOREX-Dollar softer ahead of ECB meeting, US jobs data
FOREX TRADING Trading Corner Forex Chat Advisor Weblog Signals Tracker PREMIUM Login What is FX Premium? Free Trial Subscribe ... Dollar buying against the yen on security concerns in Asia was lighter a day after the U.S. currency got a boost from a ...

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Forex - Dollar little changed after modest gains on North Korean ...
Forex - Dollar little changed after modest gains on North Korean missile test 07.05.2006 ... Over in Europe, the euro got a fillip in European trading after a stark reminder that the economy in the 12-nation single currency area continues to improve ...

FOREX-Dollar recovers from 3-week low vs yen

TOKYO, July 3 (Reuters) - The dollar recovered from a three-week low against the yen on Monday after the Japanese currency was unable to sustain a rally triggered by an upbeat survey of corporate sentiment.

The yen initially rose after the Bank of Japan's quarterly tankan poll for June produced a headline diffusion index of plus 21, a tad lower than forecasts but up from plus 20 in March and helping to pave the way for the BOJ to possibly raise interest rates from zero next week.

But the yen's gains were short lived due to dollar buying by Japanese importers and mutual funds, whose demand for the U.S. currency underlines interest among investors in higher-yielding currencies even as domestic rates look set to rise.


"People had sold dollars going into the figure, and the reaction after the data was quite small," said Luke Waddington, head of forex trading at Royal Bank of Scotland. "So people have had to cover those short positions."

By 0555 GMT, the U.S. currency edged up to 114.55 yen from around 114.45 yen in late U.S. trade on Friday.

It had fallen to 114.10 yen, its lowest level since mid-June, soon after the tankan was released.

Some analysts said that the yen had room to gain leading up to the BOJ's two-day policy meeting beginning on July 13.

"Today's tankan certainly boosted expectations that the BOJ will lift interest rates in July," said Hideki Hayashi, global strategist at Shinko Securities