Dollar surges broadly today as risk sentiment turns sour again while treasury yields continue to march higher. Yen is apparently weak, with Japan absent from intervention despite the steep decline. But Sterling and Swiss Franc are worse, Commodity currencies are also turning south, with Kiwi on the weaker side. Stronger than expected retail sales data from the UK and Canada are providing no support to the CAD. Technically, USD/CHF's strong rally today confirms up trend resumption. The question is when EUR/USD and GBP/USD would follow. Break of 0.9630 minor support in EUR/USD and 1.0922 minor support in GBP/USD will argue that both are ready for at least a retest on recent lows at 0.9534 and 1.0351. In Europe, at the time of writing, FTSE is down -1.02%. DAX is down -1.51%. CAC is down -1.97%. Germany 10-year yield is up 0.0905 at 2.493. Earlier in Asia, Nikkei dropped -0.43%. Hong Kong HSI dropped -0.42%. China Shanghai SSE rose 0.13%. Singapore Strait Times rose 0.18%. Japan 10-year JGB yield rose 0.0024 to 0.256. |