 Dollar remains in the spotlight today as it suffers renewed selling in European session. It could be part of delayed reaction to the dovish FOMC rate hike yesterday. But then, while the greenback is the worst performing one today, loss greenback is limited so far except versus the Japanese Yen. Commodity currencies remain generally weakest ones for today and the week. Yen is currently trading as the strongest for today as risk aversion continues. Euro followed as second strongest. BoE and BoJ rate decisions today triggered little reactions. Technically, most important development today is the break of 1.1443 resistance in EUR/USD. It firstly suggests resumption of rebound from 1.1215 low. Also, it's an early signal of bullish reversal As long as 1.1364 minor support holds, further rally is now in favor back to 1.1814 key resistance. However, Dollar is only more bearish against Euro and Yen. Even USD/CHF recovers well ahead of 0.9848 key support. GBP/USD is held in tight range. AUD/USD stays near term bearish and USD/CAD remains near term bullish. More is needed to confirm underlying weakness of Dollar. In other markets, major European indices are generally lower at the time of writing. FTSE is down -0.23%, DAX is down -1.14%, CAC is down -1.62%. German 10 year yield is down -0.0128 at 0.229. Italian 10 year yield is down -0.0327 at 2.738. Earlier today, Nikkei dropped -2.84%, Hong Kong HSI dropped -0.94%, China Shanghai SSE dropped -0.52%, Singapore Strait Times dropped -0.26%. Japan 10 year JGB yield dropped -0.0032 to 0.031. |
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