 Sterling rises strongly today, and overpowers Australia and New Zealand Dollar. On the other hand, Yen's selloff continues while Dollar is following closely behind. Despite strong investor confidence data, Euro is indeed under heavy selling pressure against the Pound and Aussie. Comments from ECB chief economist Philip Lane suggests that the central bank is still open to increase the asset purchase pace in next quarter, depending on market situations. Technically, EUR/AUD's break of 1.5423 support suggests that it's on the way to retest 1.5250 low. Similarly, EUR/GBP's break of 0.8622 support now puts 0.8578 support in focus, and break will pave the way to retest 0.8470 low. We'll keep an eye on whether weakness of Euro would spread over to other pairs. At the same time, GBP/JPY's break of 153.39 high indicates up trend resumption. Focus will be on when GBP/USD will break through 1.4240 high to follow. In Europe, at the time of writing, FTSE is up 0.05%. DAX is down -0.14%. CAC is down -0.24%. Germany 10-year yield is up 0.0023 at -0.210. Earlier in Asia, Nikkei rose 0.55%. Hong Kong HSI dropped -0.05%. China Shanghai SSE rose 0.27%. Singapore Strait Times dropped -0.56%. Japan 10-year JGB yield dropped -0.0002 to 0.085. |
