DislikedAnyone beside me running the "long" haul on yen......Ignored
Long on UJ
Ive missed the buy of the dp, though it was a nice clear buy as 1hr pinbar was formed of it. Price is above dm4 and touched the utl. Lets wait and see if we get a breakout or we are doing down again.Ignored
DislikedDollar Falls Against Euro, Yen After Iran Test-Fires Missile
By Kosuke Goto and Stanley White
July 9 (Bloomberg) -- The dollar declined against the yen and euro after Iran's state television said the nation test- fired a long-range missile capable of reaching Israel.
The yen and the Swiss franc strengthened on speculation the missile test signals that international political tensions will keep escalating, spurring investors to buy assets in nations that are perceived as safer.
"The news of Iran's missile launch is causing the dollar to fall,'' said Masahiro Sato, joint general manager of the treasury division at Mizuho Trust & Banking Co. in Tokyo. "It's also boosting the Swiss franc in a flight to safety. It's difficult to judge Iran's intentions regarding its nuclear capabilities, and that is a significant geopolitical risk.''
The dollar fell to 107.05 yen as of 2:25 p.m. in Tokyo from 107.50 yen late in New York yesterday. It also weakened to $1.5716 versus the euro compared with $1.5670 yesterday.
The dollar may decline to 106.70 yen today, Sato said. Iran test-fired successfully the Shahab 3 missile with a 2,000-kilometer (1,240-mile) range and a one-ton weight at 8 a.m. local time today,'' the Al-Alam television channel said in a report on its Web site.
"In this holiday-thinned market period, geopolitical news like Iran's test firing will see safe-haven currencies like the yen benefit,'' said Robert Rennie, chief currency strategist based in Sydney at Westpac Banking Corp., Australia's fourth- biggest lender.
Japan's currency climbed to 168.24 versus the euro from 168.45 in New York yesterday. The Swiss franc advanced to 1.0282 versus the dollar from 1.0337.