Dollar faced broad sell-off overnight after the less hawkish than expected Fed rate hike and press conference, with Euro emerging as the biggest winner against the greenback. Sterling and Swiss Franc followed suit, while Australian and New Zealand dollars also strengthened but lagged on a weekly basis. Attention now shifts to BoE and SNB rate decisions. Both are expected to continue their rate hike cycles, but uncertainties remain about the path ahead. Any outcome perceived as less hawkish could push Euro further up, aided by an extended rally in EUR/CHF and a stronger rebound in EUR/GBP. Technically, EUR/GBP's break of 0.8842 minor resistance affirm the case that corrective fall from 0.8977 has completed with three waves down to 0.8717, after drawing support from 0.8720. Further break of 0.8924 resistance will send the cross through 0.8977 to resume whole rise from 0.8545 (2022 low). In Asia, Nikkei closed down -0.17%. Hong Kong HSI is up 1.74%. China Shanghai SSE is up 0.48%. Singapore Strait Times is down -0.14%. Japan 10-year JGB yield is down -0.0295 at 0.305. Overnight, DOW dropped -1.63%. S&P 500 dropped -1.65%. NASDAQ dropped -1.60%. 10-year yield dropped -0.106 to 3.500. |