Welcome to the Personal Finance new forum!

[stanbusk]

Welcome to the Personal Finance new forum!
This forum replaces the iCash mailing list.

We hope you enjoy the new forum and look forward to your comments and suggestions.

[keyloans]

Good Forum ... welcome accepted heartly !!!

[rikkieo]

So far so quiet in this forum but hopefully we get some interesting exchanges going soon.

[Alexandra]

Hi!
Aug. 31 The yen slid to a record against the euro and a six-week low versus the dollar as a report showed a surprise drop in industrial production, reinforcing expectations Japan's central bank won't raise interest rates again this year.``Industrial production data suggest we shouldn't worry about a rate hike any time soon in Japan,'' said Greg Gibbs, a currency strategist at ABN Amro Holding NV in Sydney. ``Pressure will remain on the yen,'' which may fall to 152 per euro. The yen fell to 150.60 against the euro at 1:05 p.m. in Tokyo, from 150.37 late in New York yesterday, and traded as low as 150.63, the weakest since the euro's 1999 debut. Against the dollar, it fell to 117.44 from 117.16, the weakest since July 19. ``The BOJ is very unlikely to raise rates the rest of the financial year'' to March, said Toru Umemoto, chief currency analyst at Barclays Capital in Tokyo. ``It's negative for the yen,'' which may decline to 119 in a month.The euro also gained on speculation Trichet after a policy meeting today will signal two more rate increases by year-end. The difference in yield between European and Japanese two-year government bonds this week reached the widest since December 2002. ``The euro-yen is a juggernaut,'' said Tony Morriss, a currency strategist at Australia & New Zealand Banking Group Ltd. in Sydney. ``The yield play continues to weigh on the yen, while the euro is firming. At the very least Trichet will be hawkish and there's an outside chance of a rate hike.'' ``The ECB is going to keep on hiking rates, probably two more times this year, and the Bank of Japan may hike rates once more in their fiscal year,'' said Tim Mazanec, senior foreign- exchange strategist at Boston-based Investors Bank & Trust Co. ``We could get to 155 in the course of three or four months.'' Futures traders have cut bets the BOJ will raise rates a second time this year, from 0.25 percent, after a government report last week showed inflation below estimates. Yields on three-month Euroyen futures for December delivery fell to 0.500 percent today from 0.525 percent yesterday.
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