 Yen's selloff is the main theme today with USD/JPY hitting the highest level in 24 years, above 140 handle. Australian Dollar quickly turns softer after RBA delivered an expected rate hike. On the other hand, Sterling is getting a lift after Liz Truss is set to become the next UK Prime Minister while Euro remains soft. Dollar is mixed for now, awaiting more guidance from overall risk sentiment. Technically, AUD/CAD is staying within our radar. Now that RBA risk is cleared, the next is tomorrow's BoC rate decision, where a 75bps hike is expected. On the downside, break of 0.8875 support will argue that rebound from 0.8733 has completed, and larger down trend is ready to resume through 0.8733. Let's see if that will happen. In Europe, at the time of writing, FTSE is up 0.20%. DAX is up 0.94%. CAC is up 0.42%. Germany 10-year yield is down -0.005 at 1.558. Earlier in Asia, Nikkei rose 0.02%. Hong Kong HSI dropped -0.12%. China Shanghai SSE rose 1.36%. Singapore Strait Times rose 0.27%. Japan 10-year JGB yield rose 0.0061 to 0.241. |
