Dollar retreats mildly in Asian session but remains the strongest one over the week. The rally in treasury yields appear to be taking a breather. But 10-year yield is holding firm above 1.54 handle, while 30-year yield is also above 2.0 handle. Canadian is following as the second strongest, and then Aussie. On the other hand, New Zealand Dollar is the worst performing, followed by Sterling and then Yen. As month end is approaching, traders might start to hold their bets for now until next week. Technically, EUR/USD breached 1.1602 key medium term support level. GBP/USD also broke 1.3482 key medium term resistance turned support too. At the same time, USD/JPY also broke 111.71 key medium term structural resistance. Now, focus will be also whether Dollar could sustain above these level to confirm a medium to long term reversal. In Asia, at the time of writing, Nikkei is down -0.14%. Hong Kong HSI is down -0.86%. China Shanghai SSE is up 0.37%. Singapore Strait Times is up 0.47%. Japan 10-year JGB yield is up 0.0036 at 0.073. Overnight, DOW rose 0.26%. S&P 500 rose 0.16%. NASDAQ dropped -0.24%. 10-year yield rose 0.007 to 1.541. |
