SearchMid morning Forex market comment.23rd February 2006 Currency markets bounced into life on the release of a better than expected German February IFO business climate index. The Index which had been expected to record a 101.5 level, jumped to its highest level in 14 years at 103.3 from a revised 101.8 in January. The Euro has jumped to record a high trade around 1.1950. This is still short of a target of 1.2000 which many day traders would be looking for. The British pound has jumped to a 10 day high of 1.7525. Most fx traders would be looking at a target 50 pips higher at around 1.7575 to take profits. The Swiss Franc trading at 1.3060 is just 30 pips short of a near term target at 1.3030. The Japanese Yen is sitting on support at 117.10 with a further target of 116.70. The Japanese Yen had been taken better in Asian trading by reaction to comments from the Bank of Japan Governor Fukui. He had intimated that inflation data was likely to signal a change in BOJ policy. 
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