Dollar remains generally weak in Asian session, with notable selloff against Yen too. Markets generally turned cautious as US President Donald Trump is set to announce his new China policies on Friday. This is in response to China's passing of national security law to forcibly impose on Hong Kong. With that Secretary of State Mike Pompeo certified to the US Congress that Hong Kong has effectively lost its autonomy and no longer warrants special treatment by the US. Trump is expected to announce a range of penalties but the scope is unclear for now. Staying in the currency markets, Yen is currently the strongest one for today, followed by Euro. New Zealand Dollar is the weakest, followed by Dollar and then Canadian. For the week, Dollar is the weakest one, followed by Yen. Kiwi is the strongest followed by Euro. Judging from the picture, Euro might extend the "New Generation EU" triggered rally to close the week strongly. Yen has a possibility to turn around and end the week mixed if markets turn more risk-off today. In Asia, currently, Nikkei is down -0.35%. Hong Kong HSI is down -0.71%. China Shanghai SSE is up 0.01%. Singapore Strait Times is down -0.40%. Japan 10-year JGB yield is up 0.0030 at 0.003. Overnight, DOW dropped -0.58%. S&P 500 dropped -0.21%. NASDAQ dropped -0.46%. 10-year yield rose 0.025 to 0.705. |
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