 Sterling strength continues today, in the otherwise mixed markets. UK Prime Minister Boris Johnson told the parliament that restrictions measures are already "starting to have an effect in many parts of the country". Canadian Dollar is following as second strongest for today, lifted slightly by upside acceleration in oil prices. Dollar, as the third strongest, is paring back some of yesterday's losses. On the other hand, selling focus is turning back to the Euro, with Aussie and Kiwi also turning soft slightly. Technically, Sterling pairs would be a focus for the rest of the week. GBP/CHF's break of 1.2118 resistance is a sign that near term buying is back. GBP/USD is pressing 1.3702 resistance, without backing off. Firm break there will resume larger rise from 1.1409 to 1.3956 projection level. More importantly, EUR/GBP could have a take on 0.8861 key near term support. Decisive break there would resume the pattern from 0.9499, with another falling leg through 0.8670 support. In Europe, currently, FTSE is down -0.10%. DAX is down -0.03%. CAC is up 0.17%. Germany 10-year yield is down -0.039 at -0.503. Earlier in Asia, Nikkei rose 1.04%. Hong Kong HSI dropped -0.15%. China Shanghai SSE dropped -0.27%. Singapore Strait Times rose 0.01%. 10-year JGB yield dropped -0.0052 to 0.032. |
