 Yen trades broadly lower today after BoJ left monetary policy unchanged, including keeping the 10-year JGB yield cap. Selling is not too fierce for now on mixed sentiment in the Asian markets. But if global stocks stage a pre-weekend rebound, the decline in Yen could quickly intensify. Meanwhile, Swiss Franc is still the strongest one for the week after SNB's rate hike yesterday. Commodity currencies are broadly lower, led by Canadian, Technically, both EUR/JPY and GBP/JPY breached minor resistance levels at 141.48 and 165.14. The development suggests that near term pull back could be finished, and stronger rise could be in favor. The question is, if that happens, whether that would be accompanied by stronger rebound in EUR/USD and GBP/JPY. Let's see. In Asia, at the time of writing, Nikkei is down -1.45%. Hong Kong HSI is up 1.35%. China Shanghai SSE is up 0.96%. Singapore Strait Times is down -0.48%. Japan 10-year JGB yield is down -0.0138 at 0.257. Overnight, DOW dropped -2.42% to 29927, losing 30k handle. S&P 500 dropped -3.25%. NASDAQ dropped -4.08%. 10-year yield dropped -0.088 to 3.307. |
