Yen trades generally lower today as pressured by surging US treasury yields and mild risk-on sentiments. Dollar and commodity currencies are not too far behind. European majors continue to be strong as led by Euro and Swiss Franc. Sterling is not performing too badly against others as traders are not committing to bet on no-deal Brexit. Technically, the strong rise in US 10-year yield overnight is worth a note. TNX is so far trending well inside near term rising channel, holding above 55 day EMA. A test on 1% handle would likely be seen soon but 1.266 resistance should be out of radar for now, at least until a plan for mass rollout of coronavirus vaccine. In Asia, Nikkei closed up 0.03%. Hong Kong HSI is up 0.66%. China Shanghai SSE is down -0.21%. Singapore Strait Times is up 0.15%. Japan 10-year JGB yield is down -0.001 at 0.023. Overnight, DOW rose 0.20%. S&P 500 rose 0.18%. NASDAQ dropped -0.05%. 10-year yield rose 0.014 to 0.948. |