 Swiss Franc is the winner so far today, as Dollar and Yen pare back some of last week's gains. Meanwhile, Euro is also soft after poor investor confidence data. On the other hand, New Zealand Dollar is following closely as second strongest, on anticipation of RBNZ rate hike later in the week. Other currencies are mixed for now, awaiting a clear direction. Technically, GBP/USD is now pressing 1.3608 minor resistance and break there should confirm short term bottoming. We'd see if that would be followed by stronger rise in Sterling, and pushes EUR/GBP towards 0.8499 support. Or, it would be accompanied by selloff in Dollar, with EUR/USD breaking 1.1682 resistance and USD/CHF breaking 0.9214 support. In Europe, at the time of writing, FTSE is up 0.07%. DAX is down -0.14%. CAC is down -0.01%. Germany 10-year yield is up 0.0026 to -0.219. Earlier in Asia, Nikkei dropped -1.13%. Hong Kong HSI dropped -2.19%. Singapore Strait Times rose 1.26%. Japan 10-year JGB yield dropped -0.0040 to 0.051. China was on holiday. |
