 Dollar stabilizes mildly as another week starts, as selling focus temporarily turns to Yen. Both are weak nonetheless and stay near term bearish as least. Meanwhile, Sterling is trading slightly stronger in Asian session with help from recovery in crosses against Euro and Swiss Franc. But commodity currencies, as led by Canadian Dollar, have more potential to lead the rises. In other markets, Gold is consolidating last week's rise for now, while Bitcoin is taken up by other cryptos. Technically, GBP/USD's break of 1.4008 resistance suggests resumption of the rebound from 1.3668 to retest 1.4240 high. Similarly, GBP/JPY breaks 152.38 resistance to resume the rise from 149.03 towards 153.39 high. But we'd need to see GBP/CHF breaking through 1.2733 resistance, to indicate completion of correction from 1.3070, and to confirm the Pound's own underlying strength. Otherwise, it's just a following others' moves. In Asia, at the time of writing, Nikkei is up 0.52%. Hong Kong HSI is down -0.33%. China Shanghai SSE is up 0.06%. Singapore Strait Times is down -0.50%. Japan 10-year JGB yield is down -0.0004 at 0.085. |
