SpotEuro Forex Daily Outlook August 17, 2010

MARKET UPDATE. So far, we've seen consolidation across the board. Equities started the week to the downside, however, the market was able to consolidate and the DOW was able to close near unchanged levels. We're still looking for big moves and we're expecting the Yen to get another bid sometime this week; we'll be looking at the JPY pairs during today's trading session as most of the headlines over the past 8 hours have been in regards to the strength of the yen. Here are some comments:

Recent Notable Headlines:

Japan Econ Min Arai: Yen appreciation might be in final phase. Might not cease with verbal intervention.


Japan PM Kan: Must monitor both GDP data and movements in currency closely; Reiterates view to continue to watch yen "carefully".


Former MoF Watanabe: Current price action in JPY currency viewed as 'stable'; Believes that no action is warranted to limit JPY rise at this time.

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