 Yen's rebound continues in relatively quiet trading in Asia. Risk aversion is not apparent as major indices outside of Japan are all in slight black. Instead, Yen traders could be reversing recent shorts as treasury yields pull back. Staying in the currency markets, New Zealand Dollar remains the worst performing one, followed by Dollar. The greenback is looking rather vulnerable against. Australian is also soft even though RBA rules out further easing. On the other hand, Sterling is the firmer one together with Canadian. Technically, USD/CAD's break of 1.3191 temporary low suggests that the brief consolidation has completed with fall from 1.4667 resuming. USD/CHF is also pressing 0.9050 temporary low and break will resume larger down trend. USD/JPY's decline is accelerating downwards, threatening the bullish reversal case. Focus is back on 105.30 support and break would likely resume larger fall through 104.18 low. In Asia, currently, Nikkei is down -0.29%. Hong Kong HSI is up 0.24%. China Shanghai SSE is up 0.42%. Singapore Strait Times is up 0.27%. Japan 10-year JGB yield is down -0.0058 at 0.039. Overnight, DOW dropped -0.31%. S&P 500 rose 0.27%. NASDAQ rose 1.00% to 110.43, a record close. 10-year yield dropped -0.026 to 0.683, losing 0.7 handle. |
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