Released on: January 17, 2008, 1:12 am

Press Release Author: finexo gilad

Industry: Financial

Press Release Summary: The yen hold the dominant position in the forex market on
account of sharp decline in Asian trade.

Press Release Body: The yen hold the dominant position in the forex market on
account of sharp decline in Asian trade. After the weak US retail sales data
investors experienced the possibilities of heading recession in the economy, on
account of which yen went to record high against dollar since 2005, recently the
dollar is trading at 107.41 yen from 107.60 yen the late Wednesday. Since dollar is
degrading on account of weak economic data there are possibilities for the decline
in the rates by the Federal Reserve but what will be the ultimate result of all the
activities in the world's biggest economy and the ultimate outcome for the other
economy of the world can well be analyzed with www.forexwebtrader.com report which
upgrades with the latest move.

On the other hand, Dollar also fell exceptionally down against the euro, on account
of weak us economic retail sales data and banks debts, the euro is on the trend of
0.3% gain versus the US dollar. The euro also went to record high against the
British pound, which is amongst one of the currency which is rising faster on the
belief of successive rates cut by Federal Reserve as compared to that of UK which on
its recent economic report experienced strong consumer prices than which is
expected in the market.

With the expectations of sharp decline in the interest rates and crisis in the
availability of financial credit in the US economy, took gold to a record high of
914$ on Monday and there was further possibility for its increment, and there was
further expectation for it to reach a record high of 1000$. But unfortunately, gold
suffered a loss of 8.60$ on Thursday, as the USD held a slight gain versus the euro
according to the report being revealed by U.S. Federal Reserve. It fell to
880.50$-881.50$ from 885.60$-886.30$ on Wednesday it went to more than 1% down, in
order to overcome the losses from the stock markets which it was suffering.

Analyst says if US stock continues to degrade with the same trend there are
possibilities for yen and euro to reach a new record high than the present but it's
on the belief that the fed will wait for the December's consumer price index data
before making any decision regarding the rate cut.



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