Euro jumps notably today, as supported by highest inflation reading in a decade, and hawkish comments from an ECB official, as well as rise in German yields. Though, it's slightly outshone by Kiwi, Aussie and Swiss Franc for now. On the other hand, Dollar's selloff continues to pick up momentum and even dips against Yen. Canadian Dollar also stays weak, getting little support from GDP data that matched expectations. Technically, EUR/GBP's break of 0.8592 minor resistance suggests resumption of the rebound from 0.8448. That's affirming Euro's underlying strength. But as EUR/CHF appears to be rejected by 1.0839 resistance, Euro's rally is somewhat capped elsewhere. We'll keep on monitoring European crosses to gauge the potential of more upside acceleration in EUR/USD and EUR/JPY. In Europe, at the time of writing, FTSE is down -0.62%. DAX is down -0.37%. CAC is down -0.41%. Germany 10-year yield is up 0.0209 at -0.396, back above -0.4 handle. Earlier in Asia, Nikkei rose 1.08%. Hong Kong HSI rose 1.33%. China Shanghai SSE rose 0.45%. Singapore Strait Times dropped -1.52%. Japan 10-year JGB yield rose 0.0064 to 0.026. |
