 Another round of selling was seen in Dollar overnight, as US stocks extended record run. But Yen was even weaker, following the strong rally in treasury yields. It remains to be seen if investors are already starting to position themselves for the Jackson Hole symposium. For now, Yen, Dollar, and Swiss Franc are the worst performers for the week. New Zealand Dollar is the strongest, followed by other commodity currencies. Technically, we'd continue to monitor some levels in Dollar pairs on their reaction to incoming Jackson Hole news flows. In particular, the levels include 1.1804 resistance in EUR/USD, 1.3785 minor resistance in GBP/USD, 0.7288 resistance in AUD/USD, 0.9098 support in USD/CHF and 109.10 support in USD/JPY. Synchronized break of these levels would indicate that deeper selloff in Dollar is underway. In Asia, at the time of writing, Nikkei is down -0.01%. Hong Kong HSI is down -1.44%. China Shanghai SSE is down -0.50%. Singapore Strait Times is down -0.05%. Japan 10-year JGB yield is down -0.0019 at 0.019. Overnight, DOW rose 0.11%. S&P 500 rose 0.22%. NASDAQ rose 0.15%. 10-year yield rose 0.052 to 1.342. |
