Sterling is notably lower today in otherwise mixed markets. Euro is also firm, with help from recovery against the Pound. Aussie is the stronger one, mainly because it's paring last week's losses. Upside is so far limited ahead of tomorrow's RBA monetary policy decision. On the other hand, Swiss Franc softens mildly, paring some of last week's gains. Technically, firm break of 0.8555 resistance in EUR/GBP would indicate short term bottoming at 0.8498. Stronger rebound could follow for 0.8868 resistance. If happens, we'd see if that wold translate into selling in the Pound, like breaking through 151.55 minor support in GBP/JPY. Or, Euro will rise on the rise, with EUR/USD breaking through 1.1907 temporary top. In Europe, at the time of writing, FTSE is up 0.63%. DAX is up 0.19%. CAC is up 0.74%. Germany 10-year yield is up 0.010 at -0.449. Earlier in Asia, Nikkei rose 1.82%. Hong Kong HSI rose 1.06%. China Shanghai SSE rose 1.97%. Singapore Strait Times dropped -0.18%. Japan 10-year JGB yield rose 0.0016 to 0.021. |
