 Risk aversion took a breath overnight in the US. But selloff in stock markets intensified again after Trump condemned that China "broke the deal" and pledged "we won't back down" on tariffs. It's so far highly doubtful if Chinese Vice Premier Liu He could turn around the situation in his trip to Washington starting today. Asian stocks are all in deep in red for the moment while DOW future is also down -140 pts. In the currency markets, Yen surges broadly again today and is again the strongest one. Dollar, Euro and Sterling are chasing after the second spot. Australian, New Zealand and Canadian Dollars are the weakest on risk aversion as usual. For the week, Yen is the strongest, followed by Dollar and then Euro. Sterling remains the weakest on Brexit impasse, then Kiwi after RBNZ cut, and then Aussie. Technically, Yen crosses remain generally weak. This week's selloff indicates near term bearish reversal in USD/JPY, EUR/JPY and GBP/JPY. And more downside are expected in these crosses in the near term at least. AUD/USD is heading back to 0.6962 temporary low after brief recovery. Break will resume near term down trend from 0.7295. GBP//USD is pressing 1.2987 minor support and break will but an early sign of near term bearish reversal too. EUR/USD, USD/CHF and USD/CAD are range bound, with Dollar in mild upper hand. In Asia, currently, Nikkei is down -0.96%. Hong Kong HSI is down -1.95%. China Shanghai SSE is down -1.35%. Singapore Strait Times is down -0.44%. Japan 10-year JGB yield is down -0.001 at -0.053. Overnight, DOW rose 0.01%. S&P 500 dropped -0.16%. NASDAQ dropped -0.26%. 100-year yield rose 0.034 to 2.482, kept well below 2.5 handle. | 
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