 Dollar is facing an intensified selloff in today's Asian trading session, with the currency's decline appearing to accelerate. The return of risk-on sentiment, signaled by overnight gains in major US stock indexes, has added additional weight on the greenback. Market watchers are eagerly anticipating the release of US CPI data today, as they seek further evidence to back their prediction that Fed's anticipated rate hike later this month could be the last in the current cycle. Elsewhere in the currency markets, New Zealand Dollar is posting marginal gains after RBNZ held its rates steady, while Australian Dollar is also up slightly. But these gains are largely overshadowed by the impressive rally of Yen, which is building further momentum in a bullish reversal. On the other hand, Canadian Dollar is showing weakness ahead of BoC's anticipated rate hike today, despite it surpassing a near-term resistance against the US Dollar. Swiss Franc is exhibiting weakness for the time being too, whereas Euro and British Pound are experiencing a mixed trading session. In Asia, at the time of writing, Nikkei is down -0.64%. Hong Kong HSI is up 1.08%. China Shanghai SSE is down -0.15%. Singapore Strait Times is up 0.52%. Japan 10-year JGB yield is up 0.018 at 0.474. Overnight, DOW rose 0.93%. S&P 500 rose 0.67%. NASDAQ rose 0.55%. 10-year yield dropped -0.026 to 3.980. |
