 The financial markets are relatively quiet today with Japan and Singapore on holiday. Yen and Swiss franc generally firmer but there is no clear follow through buying to extend last week's rally yet. On the other hand, Dollar is soft, but focus should be more on weakness in Sterling and New Zealand Dollar. The economic calendar is near empty today and without fresh stimulus, we'd expect last week's risk aversion trend to continue. Technically, both USD/JPY and GBP/JPY are extending recent decline. 117.67 temporary low in EUR/JPY would be watched to further confirm broad based strength in the Yen. Meanwhile, 1.0863 temporary low in EUR/CHF will also be watched for weakness in Euro and strength in Swiss. In Asia, currently, Hong Kong HSI is up 0.01%. China Shanghai SSE is up 0.70%. Japan and Singapore are on holiday. | 
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