Dollar and Yen recover mildly as the week starts, paring some of last week's losses. Buying momentum in both currencies is rather weak so far, and they don't look like bottoming yet. New Zealand Dollar spiked higher earlier today after much stronger than expected consumer inflation data. But the rally in Kiwi faded quickly. Overall, the markets are in consolidative mode, and we'd look for more downside in Dollar and Yen later in the week. Technically, however, the rather weak recovery in EUR/USD is casting some doubts on Dollar's weakness. The recovery from 1.1523 is limited comfortably below 1.1639 minor resistance so far. Larger fall from 1.2265 is still mildly in favor to resume at a later stage. Nevertheless, firm break of 1.1639 should confirm short term bottoming and bring stronger rebound. We'd keep an eye on the development as hint on overall direction in Dollar. In Asia, Nikkei closed up 0.15%. Hong Kong HSI is down -0.45%. China Shanghai SSE is down -0.25%. Singapore Strait Times is down -0.03%. Japan 10-year JGB yield is up 0.012 at 0.092. | 