Dollar dropped notably overnight after Fed Chair Jerome Powell surprised the markets by ruling out a 75bps rate hike. The comment also boosted US stocks sharply higher. Risk-on sentiment helped commodity currencies rebound. But European majors are lagging behind. Yen is so far mixed, with slight retreat in US 10-year yield. BoE rate decision would provide more volatility to the markets, and non-farm payrolls tomorrow too. Technically, it's still early to call for a deep correction in Dollar, no to mention a bearish reversal. Nevertheless, AUD/USD's breach of 0.7228 minor resistance suggest short term bottoming. USD/CAD could also break through 1.2717 support to indicate short term topping too. Other levels to watch will include 1.0756 support turned resistance in EUR/USD and 126.91 support in USD/JPY. In Asia, Japan is on holiday. Hong Kong HSI is up 0.52%. China Shanghai SSE is up 0.76%. Singapore Strait Times is down -0.16%. Overnight, DOW rose 2.81%. S&P 500 rose 2.99%. NASDAQ rose 3.19%. 10-year yield dropped -0.043 to 2.917. | 