The News Review:

- WRLD FREX: Dlr Yen Slip a Bit As Risk Appetite Returns
- WRLD FREX: Dollar Falls As Stocks Cheer CIT Deal
- Telmex Seen Reporting Higher 2Q Net Profit n Forex Gains
- Argentina To Use Tax Declarations To Tighten Forex Controls
- Trade Desk Thoughts: The Importance f Forex Speculators
- Forex Daily Analysis
- TCS to halve forex hedging tenure

WRLD FREX: Dlr Yen Slip a Bit As Risk Appetite Returns
Wall Street Journal
–>WRLD FREX: Dlr Yen Slip a Bit As Risk Appetite Returns ArticleCommentsmore in. In the article discussing the Fed’s possible exit strategies from quantitative easing before it poses an inflationary threat Bernanke made it clear that he isn’t expecting an early recovery. “Economic conditions are not likely to warrant tighter monetary policy for an extended period” Bernanke said.

WRLD FREX: Dollar Falls As Stocks Cheer CIT Deal
Wall Street Journal
–>WRLD FREX: Dollar Falls As Stocks Cheer CIT Deal ArticleCommentsmore in. could avoid bankruptcy. The news filliped risk appetite in addition to a string of encouraging second-quarter earnings reports recently supporting higher-yielding currencies against the safe haven buck. The euro gained as high as $1.
Related from Yolog: WRLD FREX: Dollar Up Vs Yen n Bond Flows ut f Japan

Telmex Seen Reporting Higher 2Q Net Profit n Forex Gains
Wall Street Journal
9% rise in second-quarter net profit as foreign exchange gains compensate for declining sales and cash flow. Net profit probably rose to 6. 36 billion pesos ($478. 5 million) or MXN0.

Argentina To Use Tax Declarations To Tighten Forex Controls
Wall Street Journal
–>Argentina To Use Tax Declarations To Tighten Forex Controls ArticleCommentsmore in. “We’re focusing our work on tax evasion in all segments” AFIP Director Ricardo Echegaray said. Echegaray said the government will require individuals to justify their income and prove that they have.

Trade Desk Thoughts: The Importance f Forex Speculators
International Business Times
That is fine so long as we understand that market mechanics may just have to pull things back to support test the speculative interest pick up the stragglers and then make the moves back up towards the highs set on Monday. Bottom line; the overbought near-term reads will struggle to break new ground unless the speculative interest starts to draw in institutional volume. The 4 hour charts have still not committed to a trend as yet on the equity commodity and forex reads and as such right now the markets do have the ability to drop lower bounce and take the current areas out that were set in trade on Monday.

Forex Daily Analysis
Forex Hound
com’>support@finotec. comThe Dollar and the Yen rise as Bernanke talks of plan to fight inflationYields indicate investors lowered their bets that inflation will increase. The greenback and the Japanese Yen rose after Federal Reserve Chairman Ben S. Bernanke said the central bank will be able to stem inflation once it begins to raise interest rates. The Fed will maintain ?accommodative policies? aimed at reviving the U. economy for an ?extended period? including holding its benchmark interest rate near zero Bernanke wrote in the article.

TCS to halve forex hedging tenure
Hindu Business Line
Sagar Bhadra Adith Charlie Mumbai July 21 Tata Consulting Services will halve the tenure of its hedging contracts in future due to the continuing unpredictability in the rupee market. Henceforth the duration of TCS’ forex contracts will be “not more than a year” Mr S. Mahalingam Executive Director and Chief Financial fficer told Business Line. Earlier the company had a policy of hedging its dollar exposure for a period of two years or more. In fiscal 2009 TCS had booked $349 million of hedges at Rs 41 when the rupee was on an appreciating spree; of this $226 million is expected to expire over the next three quarters The company bought a combination of put and call options that gave it the right to sell $1 for Rs 39 and an obligation to sell $1 for Rs 41 if exercised by the counterparty. Effectively it had then decided to confine its forex exposure to the range of Rs 39-41 (to the dollar).