Sterling recovers mildly today after BoE left monetary policy unchanged as widely expected. Two members voted for an increase in asset purchase but that was shrugged off by the markets. Though, Australian Dollar is even stronger for the moment. Yen weakens mildly together with Swiss Franc. But for the week, Yen remains the strongest, followed by Aussie and then Dollar. Euro is the worst performing followed by Swissy. Technically, Euro's weakness could be a focus for today. In particular, comparative strength with Sterling might send EUR/GBP to a test on 0.8670 temporary low. Break will resume the decline from 0.9499 to 0.8276/8595 support zone. EUR/JPY is pressing 114.39 projection level and break will extend current down trend to next projection level at 110.21. EUR/USD is also eyeing 1.0727 and break will put focus to 1.0635 low. In Asia, Nikkei closed up 0.28%. Hong Kong HSI is down -0.68%. China Shanghai SSE is down -0.24%. Singapore Strait Times is up 0.75%. Japan 10-year JGB yield is up 0.0247 at 0.001. Overnight, DOW dropped -0.91%. S&P 500 dropped -0.70%. NASDAQ rose 0.51%. 10-year yield rose 0.054 to 0.711. |
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