Dollar surges to highest level against Euro as helped by rebound in US treasury yields overnight, as well as extended record runs in stocks. Nevertheless, sentiments in Asian turn back into risk-off mode, Yen and Swiss Franc are outshining the greenback for today. Australian and New Zealand Dollars are back under some pressure. For the week so far, Euro is the worst performing one, followed by Yen and Swiss. Kiwi and Aussie are the strongest. Technically, EUR/USD's break of 1.0879 confirms medium term down trend resumption . EUR/GBP is also pressing 0.8386 support and break will bring retest of 0.8276 low. EUR/JPY is heading to 119.24 cluster support. Decisive break there will solidify the case of near term bearish reversal for retesting 115.86 low. It looks like Euro's general weakness will persist for the near term. In Asia, currently, Nikkei is down -0.16%. Hong Kong HSI is down -0.27%. China Shanghai SSE is down -0.71%. Singapore Strait Times is down -0.23%. Japan 10-year JGB yield is up 0.0118 at -0.028. Overnight, DOW rose 0.94%. S&P 500 rose 0.65%. NASDAQ rose 0.90%. 10-year yield rose 0.040 to 1.630. |
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