 Australian Dollar drops broadly today after RBA minutes confirm that more rate cuts are underway. Additional, worse than expected house price data gives the Aussie more selling pressure. Sterling is not far away as second weakest, ahead of the next round of UK Conservative leadership voting today. For now, Yen is the strongest one following decline in Nikkei as well as weakness in major treasury yields. Euro continues to be very resilient and follows as the second strongest for today. Though, the common currency will face test from German economic sentiment data. Technically, AUD/USD's recent fall from 0.7295 is in progress to retest 0.6722 flash crash low. EUR/AUD breaks first projection level at 1.6410 and is targeting 1.6631 next. AUD/JPY also breaks 74.25 fibonacci level and should be heading to 70.27 low. GBP/USD is on track to retest 1.2391 low. EUR/GBP is accelerating towards 0.9101 high. GBP/JPY is also targeting 131.51 low. USD/JPY could be a focus today as it struggled to stand above 4 hour 55 EMA again. Deeper fall could be seen back towards 107.81 low should US and German treasury yields extend weakness. In Asia, Nikkei closed down -0.72%. Hong Kong HSI is up 1.11%. China Shanghai SSE is up 0.01%. Singapore Strait Times is up 0.92%. Japan 10-year JGB yield is down -0.0022 at -0.128. Overnight, DOW rose 0.09%. S&P 500 rose 0.09%. NASDQ rose 0.62%. 10-year yield dropped -0.007 to 2.086. | 
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