Sterling drops broadly today as comments from UK and EU suggested that there is no compromise on Brexit any time soon. Euro is also pressured as German is back pressing -0.7 handle. Yen jumps again and is trading as the strongest one with fading risk appetite. Aussie follows after RBA minutes suggested that it will stand pat in September. Though, most pairs and crosses are holding inside familiar range. There is no decisive break out yet. Technically, GBP/USD and GBP/JPY weaken notably today. Corrective recoveries from 1.2014 and 126.54 started to lose momentum. Retest of these temporary lows could be seen soon. EUR/JPY could have another take on 117.51 support and break will resume recent down trend. USD/JPY also lost upside moment ahead of 107.09 resistance. Deeper fall could be seen back to retest 105.04 low if risk aversion intensifies. In Europe, currently, FTSE is up 0.21%. DAX is down -0.04%. CAC is up 0.08%. German 10-year yield is down -0.0441 at -0.692. Earlier in Asia, Nikkei rose 0.55%. Hong Kong HSI dropped -0.23%. China Shanghai SSE dropped -0.11%. Singapore Strait Times rose 0.24%. Japan 10-year JGB yield dropped -0.005 to -0.235. |
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