Yen's selloff continues to look unstoppable as global markets are set to end the week on a strong note. Asian stocks are trading broadly higher following the solid rebound in the US overnight. Dollar is also weak, partly weighed down by the extended retreat in treasury yields, but Euro is not too far away. Commodity currencies are set to end the week as the strongest, and it's just a matter of who's among Loonie, Aussie and Kiwi would be the eventual winner. Technically, NASDAQ's break above 55 day EMA affirms the case that correction from 15403.43 has completed at 14181.69, after drawing support from 14175.11. A strong close today would help set the stage for further rally to retest 15403.43 high later in the month. Such development could continue to pressure Yen ahead, while capping Dollar's rally elsewhere. In Asia, at the time of writing, Nikkei is up 1.36%. Hong Kong HSI is up 0.83%. China Shanghai SSE is up 0.29%. Singapore Strait Times is up 0.39%. Japan 10-year JGB yield is down -0.0010 at 0.084. Overnight, DOW rose 1.56%. S&P 500 rose 1.71%. NASDAQ rose 1.73%. 10-year year dropped -0.030 to 1.519. |