Asian markets continue to trade in risk averse mode today but selling has somewhat decelerated. Commodity currencies remain the weakest ones for the weak on risk-off sentiment, while Aussie is ignoring stronger than expected inflation reading. Yen and Swiss Franc are both strong, but they were outshone by Sterling. The Pound is supported by IMF's forecast upgrade on UK. Meanwhile, Dollar and Euro are mixed as focus now turns to FOMC meeting, which is unlikely to reveal something new at this stage. Technically, 1.3908 resistance in GBP/USD is an immediate focus. Firm break there will suggest completion of fall from 1.4248 and retest of this high could be seen next. If that happens, we'd keep an eye on 1.1880 resistance in EUR/USD as well as 0.9116 support in USD/CHF. Break of these levels will affirm Dollar's weakness, compared to European majors at least. In Asia, at the time of writing, Nikkei is down -1.71%. Hong Kong HSI is down -0.27%. China Shanghai SSE is down -0.65%. Singapore Strait Times is down -0.46%. Japan 10-year JGB yield is down -0.0059 at 0.014. Overnight, DOW dropped -0.24%. S&P 500 dropped -0.47%. NASDAQ dropped -1.21%. 10-year yield dropped -0.042 to 1.234. | 