 Yen and Swiss Franc rise broadly in Asian session today, followed by Dollar, on mild risk aversion. Traders are seeing some risk of a snap election in UK after the schedule of Brexit deal was voted down. Additionally, political risks in Hong Kong continued on news that China is planning to replace Chief Executive Carrie Lam. At this point, commodity currencies are generally lower as led by Australian Dollar. Sterling and Euro are mixed. Technically, the case for Dollar reversal is building up. Yet, no resistance levels are taken out yet. Focus will be on 1.1062 minor support in EUR/USD, 0.6810 in AUD/USD and 0.9904 minor resistance in USD/CHF. These levels have to be taken out to indicate sustainable rebound in greenback. While Sterling retreats, there is also no clear sign of reversal yet. Further rise is expected in the pound as long as 1.2582 support in GBP/USD, 135.74 in GBP/JPY and 0.8811 resistance in EUR/GBP hold. In Asia, Nikkei closed up 0.37%. Hong Kong HSI is down -0.84%. China Shanghai SSE is down -0.14%. Singapore Strait Times is down -0.60%. Japan 10-year JGB yield is down -0.0025 at -0.138. Overnight, DOW dropped -0.15%. S&P 500 dropped -0.36%. NASDAQ dropped -0.72%. 10-year yield dropped -0.024 to 1.768. |
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