Yen strengthens broadly today as markets stabilized from recent strong risk appetite. US stocks closed mixed after extending recent record runs. Euro, Dollar and Sterling follow as the next strongest while markets continue to eye trade developments. Commodity currencies are generally lower. In particular, New Zealand Dollar is weighed down by larger than expected surge in unemployment rate. For the week, Dollar is currently the strongest, followed by Canadian, while Kiwi is the weakest followed by Euro. Technically, EUR/USD is now pressing 1.1062 support after yesterday's sharp fall. Decisive break there will indicate completion of rebound form 1.0879 and bring retest of this low. USD/CHF's rebound invalidated head-and-shoulder top scenario and break 0.9970 resistance is first sign of resumption of rise from 0.9659. USD/JPY is now eye 109.28/31 resistance zone. Break will resume whole rebound from 104.45 and could prompt upside breakout in other Yen crosses. In Asia, Nikkei rose 0.22%. Hong Kong HSI is up 0.11%. China Shanghai SSE is down -0.70%. Singapore Strait Times is up 0.37%. Japan 10-year JGB yield is up 0.048 at -0.086. Overnight, DOW rose 0.11%. S&P 500 rose -0.12%. NASDAQ rose 0.02%. 10-year yield rose 0.080 to 1.866. |
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