Dollar is currently the strongest one for the week so far, as helped by strong rally in treasury yields as well as pull back in stocks. Yen also stays week but the selling in crosses is cushioned by uncertain risk sentiment. Sterling is also soft with eyes on the energy troubles. But overall development is mixed in crosses with some resilience seen in Euro, Aussie and Canadian, while New Zealand Dollar is pressured. Technically, we'd continue to focus on 111.65/71 key resistance zone in USD/JPY. Sustained break of this zone would signal larger bullish trend reversal. As the same the, if that happens, we'd look at EUR/USD's reaction to 1.0633 low to confirm if that's about underlying buying momentum in Dollar. In Asia, at the time of writing, Nikkei is down -2.36%, back below 30k handle. Hong Kong HSI is down -0.39%. China Shanghai SSE is down -1.47%. Singapore Strait Times is up 0.08%. Japan 10-year JBG yield is down -0.0076 at 0.067. Overnight, DOW dropped -1.63%. S&P 500 dropped -2.04%. NASDAQ dropped -2.83%. 10-year yield rose 0.050 to 1.534. |