The forex markets are rather quite in Asia today, following subdued trading elsewhere. Dollar's decline is slowing but it remains the worst performing major currency so far, followed by commodity currencies. Sterling and Yen are the stronger ones this week, as both are supported by rallies in respective treasury yields. Though, Swiss Franc is surprisingly even stronger, in a still risk-on market. While Euro stays firm against Dollar, it's mixed elsewhere. Technically, 104.39 resistance turned support in USD/JPY will remain a focus. It's so far holding on to the level but firm break will suggest completion of near term rebound from 102.58. That would likely prompt deeper selloff in the pair and further confirm overall bearishness in Dollar. Euro is also starting to look weak against Sterling and Aussie. Eyes will be on when EUR/GBP and EUR/AUD would break through 0.8737 and 1.5615 temporary low respectively. In Asia, currently, Nikkei is up 0.19%. Hong Kong HSI is up 0.34%. China Shanghai SSE is up 1.43%. Singapore Strait Times is down -0.19%. Japan 10-year JGB yield is up 0.0096 at 0.080, very strong. Overnight, DOW rose 0.20%. S&P 500 dropped -0.03%. NASDAQ dropped -0.25%. 10-year yield dropped -0.024 to 1.133. |