Alex Beuzelin Traders Quotations

Traders are marking time ahead of the G7 finance ministers meeting on Friday. I think there is still a significant amount of event risk and that is tending to temper the dollar's movement,

Since there was no expression of concern at the yen's strength, traders interpreted this as a green light to resume their yen buying,

The market's positive outlook for the Japanese economy continues to support the yen as it hit a two-month peak against the dollar, ... Technical factors continue to play a determining role in the behavior of the foreign exchange market as traders await next week's FOMC meeting. Despite recent encouraging euro-zone economic data, the euro is trading at a two-week low against the U.S. dollar.

The pre-FOMC caution and lull in the marketplace appears to give traders little reason to put on aggressive positions, ... The Japanese yen extended its recent gains as the Mori government upgraded its assessment of economic conditions.

With little in terms of fresh news or developments overnight, traders appear content to trade the U.S. dollar within its current ranges against the world's major currencies.

The Dollar/Yen remained hemmed in narrow ranges as traders were unsuccessful in their attempts to push the dollar through key technical resistance.