Selling focus turns from Dollar to Swiss Franc today, which also drags down Sterling, and to a lesser extent Euro. Dollar stabilized a little bit but there is apparent strength for recovery yet. In particular, commodity currencies are generally stronger while Canadian Dollar shrugs off weaker than expected inflation data. Attention will turn to FOMC minutes later in the session, which is unlikely to provide anything about the next policy move. Instead, investors would be more eager to know how Fed would shape the results of the year-long strategy review. Technically, 1.0838 resistance in EUR/CHF is now suddenly a focus for the rest of the session. Break will resume the rebound from 1.0602 to 1.0915 resistance. Similarly, Break of 1.2034 in EUR/GBP will extend the choppy rebound from 1.1630 towards 1.2259 resistance. In Europe, currently, FTSE is up 0.17%. DAX is up 0.33%. CAC is up 0.14%. German 10-year yield is down -0.0151 at -0.475. Earlier in Asia, Nikkei rose 0.26%. Hong Kong HSI dropped -0.74%. China Shanghai SSE dropped -1.24%. Singapore Strait Times dropped -0.08%. Japan 10-year JGB yield dropped -0.0116 to 0.030. |
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