Dollar is currently loosing its positions but is likely to growing on a bigger scale

[Femi]

IFC Markets Dealer's comment (http://ifcmarkets.com)

The Dollar has been suffering losses on Friday morning following a dramatic building up in the eve of the volatile Asian session after reported coup in Pakistan which provoked the strengthening of the Yen against the dollar and the crosses, but later was denied. Single European currency is trading near the 1.44 mark, after receiving the support of macroeconomic data for the euro zone. Positive balance of foreign trade in October, the euro zone has increased dramatically due to increased exports and falling imports. It reported a surplus of foreign trade amounted to euro-zone in October against 8.8 billion euro surplus of 0.9 billion euros in September. The figure for September was revised. Earlier it was reported that the positive balance of foreign trade in the euro zone was in September, 3.7 billion euros. Business expectations in Germany rose to a maximum of 17 months in December, as the recovery of world economy led to the revival of exports and growth in the manufacturing sector. Ifo business climate index rose to 94.7 from 93.9 in November. This is the maximum value in July 2008. Index of current conditions and expectations also rose, and the forecast for exports has stabilized.

Bank of Japan left rates at the same level of 0.1% and not announced the additional mitigation. However, in an accompanying statement, Bank of attention was paid to inflation, in particular, it was noted that the Central Bank will not allow negative values in the CPI over a long period. Perhaps this is the strongest indication of the possibility of further quantitative easing.

 

[Pinalli]

BOJ meeting announced some points related to financial matters that might possibly bring big changes at the Forex trading platform, US equities closed at low returns, German IFO business index enhanced further, Canadian wholesales reached to the peak while the UK consumer confidence dropped extremely. US equities are loosing their strength and USD possibly trade with lows.
The picture will become clearer after wards as right now Forex charts are not displaying some firm trends.

 

[Femi]

Not-more-than-expected BoJ announcement would hardly change yen crosses expect zero-rate policy to tackle deflation, so today's dollar gains were encouraged by the FED announcement reporting positive US economic aspect. Of course, today's US economic reports do not exclude dollar declines, but not due to BoJ announcement, but dut to US ecnomic situation.

As for the euro, Greece's rating cut and Austrian bank problems are more serious than Ifo enhancement, moreover the ECB announced "bad debts" would be increased in the case if mortgage banks would delay its repayment of debts that could exert down pressure on the single European currency, including some economic problems of the East European countries.

I recognize that economic data are mixed, so traders have to exactly determine what factor influences on currency courses. From this point of view, your analysis is too simple and overlook lots of factors.